Supreme Court dismisses petition: Non-compliance with conditions blocks share transfer, Section 28(iv) of IT Act not applicable.

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....Transfer of shares for Failure to comply with the conditions of contract - If the transfer was conditional and if the Assessee fails to comply with conditions and therefore, the shares could not be transferred in his name, then, applicability of Section 28(iv) of the Income Tax Act, 1961 is ruled out. - SC dismissed the SLP....