Karnataka H.C : The transfer of shares by the appellant to another limned company would amount to sale of immovable property held by the company whose shares were sold by the appellant-company and the capital gains arising on such sale of shares will be liable to be assessed as capital gains arising on the sale of the property, is perverse and arbitrary
High Court Of Karnataka Bhoruka Engineering Inds. Ltd. vs. DCIT, Circle -11 (2) Assessment Year : 2006-07 Section : 4, […]