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Income Tax - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Additions of Income of other person u/s 60 & 63(b) - transfer of ...

Income Tax

February 16, 2023

Additions of Income of other person u/s 60 & 63(b) - transfer of income without transfer of corresponding asset by the assessee - As is evident from records, FCDs were issued by TGSPL to Serco International SARL much prior to reduction in share capital. Since, there is no generation of income there can be no question of transfer of income to any other person. - Additions deleted - AT

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