Home Case Index All Cases Income Tax Income Tax + AAR Income Tax - 2007 (1) TMI AAR This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (1) TMI 107 - AAR - Income TaxHeld that amalgamation of the wholly owned subsidiary foreign company with its parent company does not result in a transfer for consideration and therefore, does not give rise to any capital gains. The liability to capital gains tax (if any) can only be on the transferor-company (subsidiary), which in the present case has lost its identity and ceased to exist.
|