CIT Vs. VINOD KUMAR GUPTA

JUDGEMENT

(1.) THE question framed for our consideration in this appeal by an order dated 03.09.2012 was as under :-

(2.) THE facts of the case are that in respect of the assessment year 2006-07, 48,100 shares of R.S.Builtwell Pvt. Ltd. were sold by the assessee to M/s Samiah International Builders Pvt. Ltd., Mr Jamil A. Khan and Ms Tabassum Jamil. The apparent consideration for the transfer of these shares was shown as Rs.125/- per share. There is no dispute that this amount of Rs.125/- per share was received through cheques from the aforesaid persons by the respondent/assessee.

(3.) THE assessment was completed on the above basis.