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2017 (6) TMI 238 - AT - Income TaxDetermining the market price of the share - capital gain computation - Held that:- The assessee has filed share price on Bombay Stock Exchange for the month of June to August, 2000 as additional evidences, but we find that the Tribunal in the order [2007 (7) TMI 342 - ITAT DELHI-C ] has already considered the market price quoted on the stock exchange for the month of June and July, 2000, and the Tribunal was not convinced and restored the matter to the Assessing Officer for determining the market price of shares keeping in view the acquisition of shares in bulk as well as transfer of controlling stake. CIT-A has taken into consideration the price of the shares quoted on the Bombay stock exchange for the month of September and November, 2000, which is the period just after completion of the acquisition of the undertaking. The Ld. CIT-A has taken into consideration both the aspect of acquisition of shares in bulk and transfer of controlling stake to the assessee. The Ld. CIT-A has also justified the reference by the Assessing Officer to the valuation officer in view of the direction of the Tribunal (supra) to take assistance of expert valuer. In our view, the Ld. CIT-A has complied with the direction of the Tribunal(supra) for determining the market value of the shares. Before us, the learned counsel of the assessee failed to bring any material to contradict above finding of the learned CIT(A). On the issue of net worth of the undertaking, there is no dispute between the parties. The order of the Ld. CIT-A on the issue in dispute is comprehensive and well reasoned, which do not require any interference on our part. - Decided against assessee.
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