Validly of transfer of shares by way of gift?

IN THE ITAT MUMBAI BENCH ‘D’ DP World (P.) Ltd. versus Deputy Commissioner of Income-tax – 2(1) IT APPEAL NOs. 3627 & 3841 (MUM.) OF 2012 [ASSESSMENT YEAR 2008-09] OCTOBER 12, 2012 ORDER N.K. Billaiya, Accountant Member   These cross appeals are filed by the assessee and the Revenue are directed against the very same order of Ld. CIT(A)-4, Mumbai dt. 26.3.2012 pertaining to assessment year 2008-09. As common issues are involved, we heard both these appeals together and dispose off the same by this common order for the sake of convenience and brevity. 2. ...