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2007 (7) TMI 171 - HC - Income Tax
Family arrangement as arrived by the assessee to rearrange the share holdings to avoid possible litigation - Tribunal was right in law in holding that, the re-arrangement of share holdings in the company to avoid possible litigation among family members to be a prudent arrangement, the same cannot be held as a transfer of shares which is exigible to Capital Gains Tax - not attract Capital Gains Tax