initial consideration of ` 2.70 crore was to be received immediately
and deferred consideration of ` 20 crore was to be received over a
period of four ... respondent-assessee as deferred consideration. The consideration
of Rs.20 crores is not an assured consideration to be received by
the Shete family
dated
October 2020, sales consideration contains 2 components:
1. Closing date consideration; and
2. Total deferred consideration (subject to clause ... also correctly offered full value of sales consideration i.e., entire
sales consideration, excluding the 'deferred (contingent) consideration' since the
conditions were
agreement of sale, the
consideration for transfer of shares is the aggregate of the initial
consideration and the deferred consideration being capped ... whether the entire consideration arising out of such transfer can be
taxed for the year under consideration or only that consideration which has
been received
consideration of Rs. 2.70 crore was to be
received immediately and deferred consideration of Rs. 20 crore was to
be received over a period ... respondent-assessee as deferred consideration. The
consideration of Rs.20 crores is not an assured consideration to be
received by the Shete family
submitted that deferred consideration thus was not certain
and clause 3.2 of the agreement merely provided that initial consideration and the
deferred consideration shall ... consideration agreed upon but the same was the maximum amount payable against
sale of shares including initial consideration and deferred consideration. It was
pointed
that as there is no certainty of
receiving any amount as deferred consideration, the bringing to tax the
maximum amount of Rs. 20 crores provided ... respondent-assessee as deferred consideration.
The consideration of Rs.20 crores is not an assured consideration to be received by
the Shete family
from the reading of the above clauses of the agreement
the deferred consideration is payable over a period of four years ... respondent-assessee as deferred consideration. The
consideration of Rs.20 crores is not an assured consideration to be
received by the Shete family
revised sales price of the share arising from a
contingent deferred consideration that was not received by the
assessee.
6.1 The AO/DRP failed ... consider the revised sale price arising due to
the contingent deferred consideration that was not received by the
Appellant during the year under consideration
deferred. But, in the instant case, though physical delivery was not effected, but, the corresponding entries with regard to the consideration were passed ... books of account. Only the physical payment of sale consideration was deferred. We have carefully examined the various provisions of law and we find that
payable in five annual instalments and interest would be charged on deferred
sale consideration from 1-7-1979 instead of 1-3-1977 - Assessee ... categorical stipulation that interest would be payable on the deferred
consideration amount in respect of the sale, which became effective from
