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2003 (11) TMI 25 - HC - Income TaxSale of shares – valuation – additional consideration - we hold that in the present case the Revenue has established that the fair market value of the shares sold by the assessee was more than Rs. 20 per share as against the full value of Re. 1 declared by the assessee and the Revenue has established that apart from the declared value of Re. 1, the assessee has received additional consideration and therefore, the valuation of shares under section 52(2) of the Income-tax Act is justified.
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