Emami Infrastructure Ltd vs. ITO (ITAT Kolkata) S. 47(iv) Transfer/ Capital Gains: The term 'subsidiary company’ is not defined under the Income-tax Act and so will have to be given the meaning in s. 4(1)(c) of the Companies Act. A subsidiary of a subsidi ...
High Court Verdict On Taxability Of Development Agreements + Buy-Back Of Shares Expenditure
CIT vs. Chemosyn Ltd (Bombay High Court) (i) Even if gains have accrued on execution of the development agreement as per Chaturbhuj Dwarkadas, the subsequent modification/ supercession of the agreement means that gains are not taxable as per real income t ...