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2009 (2) TMI 1 - AAR - Income TaxNon-resident company - long-term capital gains on sale of originally purchased shares of the Indian Company - Held that tax payable on these long-term capital gains will be 10% as per proviso to section 112(1) - Revenue’s contention that proviso to S. 112(1) is not applicable to non-residents & applicant cannot avail of the lower rate of 10 %, is rejected - further in computing capital gains, deduction is admissible us/ 48 on account of legal expenses incurred in relation to transfer of shares
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