Share premium received from foreign holding companies not income chargeable to tax

By | June 15, 2018
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(Last Updated On: June 16, 2018)

Share premium received from foreign holding companies not income chargeable to tax

The Mumbai Bench of the Income-tax Appellate Tribunal held that a share premium received by the taxpayer from its non-resident holding company was a capital transaction and, thus, not income chargeable to tax in India. The case is: Finproject India (P.) Ltd. Read a June 2018 report [PDF 688 KB]

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