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Re-computation of capital gains by lower value of consideration for sale of equity shares allowed
Case Law Details
- Case Name
- DCIT Vs Indiabulls Real Estate Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Indiabulls Real Estate Ltd. (ITAT Mumbai)
ITAT Mumbai held that re-computation of capital gains by considering the lower value of consideration for the sale of equity shares of the subsidiary company allowable as the genuineness of the same is proved.
Facts- The assessee is a company engaged in the business of real estate projects, advisory, construction, and development of real estate projects.
In its return of income, the assessee also offered the capital gains on the transfer of shares of its wholly-owned subsidiary, i.e. Shivalik Land Development Ltd, considering t...
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