Share Transfer with no consideration chargeable to Income Tax
Last updated: 19 October 2021
Court :
ITAT Mumbai
Brief :
In Shri Rajeev Ratanlal Tulshyan v. Income Tax Officer [I.T.A. No.5748/Mum/2017 & Cross Objection No. No.118/Mum/2018 AY 2014-2015 dated October 01, 2021], the Income Tax Appellate Tribunal ("ITAT"), Mumbai Bench ruled that Share Transfer without consideration or at a price lower than Fair Market Value ("FMV") is chargeable to income tax.
Citation :
I.T.A. No.5748/Mum/2017 & Cross Objection No. No.118/Mum/2018 AY 2014-2015 dated October 01, 2021
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Bimal Jain
Published in Income Tax
Views : 230
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