https://www.taxtmi.com/caselaws?id=55728 The Tribunal upheld the inclusion of capital gains of Rs. 34,425 in the total income of the assessee, dismissing the appeal. It determined that the transaction involving the transfer of shares for consideration did not fall under the exemption of section 47(ii). The partition deed dated 27-3-1973 was deemed valid, establishing equal shares among the sons. The deed dated 7-7-1978, where two sons acquired shares from the other two, was considered a transfer subject to section 45, leading to the denial of the claimed tax benefits. en-us Fri, 20 Sep 1985 00:00:00 +0530 Mon, 29 Nov 2010 16:53:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55728 The Tribunal upheld the inclusion of capital gains of Rs. 34,425 in the total income of the assessee, dismissing the appeal. It determined that the transaction involving the transfer of shares for consideration did not fall under the exemption of section 47(ii). The partition deed dated 27-3-1973 was deemed valid, establishing equal shares among the sons. The deed dated 7-7-1978, where two sons acquired shares from the other two, was considered a transfer subject to section 45, leading to the denial of the claimed tax benefits. Case-Laws Income Tax Fri, 20 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55728