https://www.taxtmi.com/caselaws?id=57885 The Tribunal reversed the CIT(Appeals) decision, holding that the transfer of shares to the partnerships was a taxable event and constituted a device to avoid tax on capital gains. The Tribunal directed the CIT(Appeals) to reassess the quantum of capital gains after providing an opportunity for both parties to be heard. The appeal was partly allowed, reaffirming the ITO's inclusion of capital gains in the assessee's total income. en-us Mon, 30 Mar 1992 00:00:00 +0530 Mon, 13 Nov 2017 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57885 The Tribunal reversed the CIT(Appeals) decision, holding that the transfer of shares to the partnerships was a taxable event and constituted a device to avoid tax on capital gains. The Tribunal directed the CIT(Appeals) to reassess the quantum of capital gains after providing an opportunity for both parties to be heard. The appeal was partly allowed, reaffirming the ITO's inclusion of capital gains in the assessee's total income. Case-Laws Income Tax Mon, 30 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57885