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2008 (9) TMI 348 - CALCUTTA HIGH COURTTransfer of business undertaking – applicability of section 47(iv) - After taking such into account, the learned Tribunal held that from the facts as are brought on record, CCIPL was 100 per cent. subsidiary of the respondent-company and the said company was an Indian company. In the said factual circumstances, the provisions of section 47(iv) were applicable in respect of transfer of business undertaking. – Held that - we do not find that there is any illegality or irregularities in respect of the order so passed by the learned Tribunal and we express the same view as has been expressed by the learned Tribunal and uphold the order
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