Skip to content


Judgment Search Results Home > Cases Phrase: debentures companies act Court: income tax appellate tribunal itat lucknow Page 1 of about 2 results (0.051 seconds)

Apr 24 2003 (TRI)

Rajendra Singh Vs. Assistant Commissioner of Gift

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2003)80TTJLuck625

..... property in the shares to the transferee gets completed by the delivery of the share certificate and execution of transfer deed, etc. section 108 of the companies act, which deals with the transfer of shares and debentures provides that transfer cannot be registered except on production of instrument of transfer. thus, section 108 regulates registration of transfer of shares. for transfer of shares ..... transfer of shares by the assessee. he also submitted that the transfer of shares or sale of shares is to be done in accordance with the provisions of the companies act and the company shall not register the transfer of shares, unless transfer instrument is duly executed by both the parties and duly stamped, etc. and the share are also delivered. according to ..... madras high court held that the transfer of interest in the shares from the transferor to the transferee is independent of the requirement of its registration for the purposes of companies act., as without an interior transfer, there can be no question of applying for registration of it.it was held by the hon'ble court that there should first be a ..... executing the contract of sale. however, since the transfer of shares involves acquisition of certain rights and interest in such property by the purchaser of shares, the provisions of the companies act, which regulate the mode of acquiring such rights also become relevant.43. the issue relating to mode of transfer of shares came before the hon'ble supreme court of india .....

Tag this Judgment!

Feb 28 2005 (TRI)

Deputy Commissioner of Income Tax Vs. Rajkumar Singh and Co.

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2006)99TTJLuck801

..... construction work was reduced to this extent, the partners of the assessee-firm decided to enter into business of purchase and sale of stocks, shares, debentures, etc. and executed a supplementary deed of partnership on 1st jan., 1990 by which clause no. 3 of the partnership deed was changed to ..... the decision of the partners of the appellant-firm (was) to carry on the business of purchase and sale and to otherwise deal in stocks, shares, debentures and other securities. it was emphasised that the shares which were the subject of conversion were all quoted on different stock exchange. (b) the fact ..... ., 1990, it was decided by all the partners ofthe firm to carry on the business of purchase and sale and to otherwisedeal in stocks, shares, debentures and other securities andcommercial papers, etc. and for this purpose to convert, out ofthe above, the following shares and bonds which were quoted onstock exchanges ..... execute any other contract or contracts and also to carry on the business of purchase and sale and to otherwise deal in stocks, shares, debentures and other securities and commercial paper and/or such other business as the partners may mutually decide from time-to-time.' that the following shares ..... held that conversion of investment into stock-in-trade was not a bona fide act but was made with the sole objective of tax avoidance. the ao further noted that assessee no doubt had purchased shares of different companies worth rs. 5,21,156 on different dates and sold some shares also .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //