Assessee  transferred major equity share of JSPL without any consideration to its sister concern, namely, Giebe. AO held that by transferring shares of JSPL without any consideration, assessee only avoided payment of taxes and, in fact, it was a sham transaction arranged by assessee to avoid taxes and transfer of shares to Giebe was a transfer within meaning of section 2(47) and, taxed it under section 45. Tribunal held that  though the AO A had rightly raised question regarding reality and genuineness of transaction, in addition to its validity, since assessee had not demonstrated by way of documentary evidence genuineness and validity of transaction, assessee was directed to provide all necessary and relevant information/details to assist Assessing Officer, in determining correct nature of alleged transaction as per law. (AY. 2014-15)