Gifted Shares Surrender Not Taxable: Tribunal Affirms Capital Receipt Exemption u/s 115JB.

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....MAT computation u/s 115JB - whether the receipt on account of surrender of gift of shares is per se a capital receipt or a revenue receipt? - The tribunal ruled that the transaction involving the receipt of shares constituted a capital receipt and should not be taxed as per section 115JB. - It held that the assessing officer lacked authority to tinker with audited financial statements unless the items fell under specified provisions, as clarified by the Supreme court in Apollo Tyres Ltd v. CIT.....