Case Law Details
Case Name : Asstt. Commissioner of Income-tax, Circle-7 Vs M/s. R.K.B.K Fiscal Services Ltd (ITAT Kolkata)
Related Assessment Year : 2006- 07
Courts :
All ITAT ITAT Kolkata
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Background
• The taxpayer sold shares of Gujarat Ambuja Cements Ltd (“GACL”) under a share purchase agreement with Holcim Mauritius for a total consideration of Rs.105 per share.
• Further, as per Article 5 of the said agreement, the taxpayer was to receive Rs.1 5 per share towards non-compete undertaking which was included in the above sale consideration.
• The taxpayer also entered into a separate agreement for change in manage
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