https://www.taxtmi.com/caselaws?id=56386 The tribunal partly allowed the appeal, ruling in favor of the assessee by deleting the addition made by the ITO in the capital gains calculation. The tribunal found no evidence to support additional consideration beyond declared values for the sale of 40 shares and concluded that the transfer of 10 shares to the firm was genuine, thus not subject to taxation. The tribunal emphasized the lack of action by the department to revise the assessment order of the firm and relied on relevant legal principles to support their decision. en-us Fri, 25 May 1990 00:00:00 +0530 Fri, 03 Dec 2010 13:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56386 The tribunal partly allowed the appeal, ruling in favor of the assessee by deleting the addition made by the ITO in the capital gains calculation. The tribunal found no evidence to support additional consideration beyond declared values for the sale of 40 shares and concluded that the transfer of 10 shares to the firm was genuine, thus not subject to taxation. The tribunal emphasized the lack of action by the department to revise the assessment order of the firm and relied on relevant legal principles to support their decision. Case-Laws Income Tax Fri, 25 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56386