Wednesday, 11 December 2013

Cap gains can't be evaded due to non-receipt of consideration if transfer fulfils Companies Act requ

IT : Where pursuant to sale agreement assessee transferred certain shares owned by it to a company, in view of fact that said transactions were duly recorded in books of account and, moreover, other requirements of Companies Act, 1956 were also complied with, it amounted to transfer within meaning of section 2(47)


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