ITAT: Share-sale to second step down 100% subsidiary, not ‘transfer’ u/s. 47(iv); Follows Petrosil Oil (Bom HC)


Conclusion

Kolkata ITAT holds that sale of shares by Emami Infrastructure Ltd. (‘assessee’) to its second step down 100% subsidiary, not transfer u/s. 47(iv), rejects assessee’s claim o...

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