Transfer of Shares being a Family Arrangement can’t be treated as Gift or Perquisites: ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, in a significant ruling, held that the transfer of shares, being a family arrangement, cannot be treated as a gift or prerequisite for the purpose of taxation and the same would not constitute a sham transaction. The income tax return filed by the assessee, an investment company […]

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