13 Mar 2009
GOVIND PRASAD SAHA V COMMISSIONER OF INLAND REVENUE CA CA617/2008
- Citation
- openlaw-8c691376_92f5_4462_abe4_6d6a864b3779.pdf
- Court
- Court of Appeal
The Court held the settlement deed created a new contractual bargain which resulted in the appellant relinquishing half his unreleased shares as part of a negotiated settlement; that transfer constituted a gain in kind within s CG 14(2) measured at market value and, if necessary, s CG 23(5) supplies the market value for deemed disposition, so the market value of the transferred shares ($602,938) must be included in 'b' of the s CG 18 formula; appeal dismissed.