Income Tax Appellate Tribunal Itat Cochin Court October 1985 Judgments Home Cases Income Tax Appellate Tribunal Itat Cochin 1985 Page 1 of about 1 results (0.023 seconds)

income-tax Officer Vs. Rajagiri Rubber and Produce Co.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1986)16ITD428(Coch.)

1. IT Appeal No. 267 (Coch.) of 1983 and C.O. No. 135 (Coch.) of 1983 are filed by the department; whereas IT Appeal No. 259 (Coch.) of 1983 is filed by the assessee. The assessment year involved in these matters is 1978-79. Since the questions raised in these matters are common they are taken up together and disposed of by this common order for the sake of convenience.2. to 9. [These paras are not reproduced here as they involve minor issues.] 10. Another point raised in the assessee's appeal relates to computation of capital gains on the sale of shares held by the assessee. The assessee transferred certain equity shares held by it in other companies. The entire sale consideration was received by the assessee on 29-6-1977. The . board of directors passed the resolution authorising transfer of shares on 27-6-1977 and blank transfer certificates were passed on to the Registrar of Companies for getting his approval on 27-6-1977. The share certificates along with the blank transfer certi...