https://www.taxtmi.com/caselaws?id=55252 The Tribunal upheld the decision that the transaction constituted a transfer under Section 2(47) of the IT Act, resulting in the imposition of capital gains tax. The valuation of total consideration for the sale of shares and the computation of capital gains were deemed accurate, rejecting the appellant's arguments of a family settlement and alternative capital gain calculation. The Tribunal affirmed the CIT(A)'s findings, concluding that the transaction did not meet the criteria for a family arrangement and was subject to capital gains tax as per the IT Act. en-us Fri, 28 Jul 1995 00:00:00 +0530 Wed, 24 Nov 2010 18:36:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55252 The Tribunal upheld the decision that the transaction constituted a transfer under Section 2(47) of the IT Act, resulting in the imposition of capital gains tax. The valuation of total consideration for the sale of shares and the computation of capital gains were deemed accurate, rejecting the appellant's arguments of a family settlement and alternative capital gain calculation. The Tribunal affirmed the CIT(A)'s findings, concluding that the transaction did not meet the criteria for a family arrangement and was subject to capital gains tax as per the IT Act. Case-Laws Income Tax Fri, 28 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55252