Clarity on Indirect Transfers

T. C. A. Ramanujam; T. C. A. Sangeetha

doi:10.33516/maj.v49i10.66-67p

Clarity on Indirect Transfers

Authors

T. C. A. Ramanujam High Court, Madras
T. C. A. Sangeetha

DOI:

https://doi.org/10.33516/maj.v49i10.66-67p

Abstract

Transfer of Shares located in India between two non-resident companies can give rise to no liability for capital gains tax of the ground that the overseas transfer of shares amounted to a transfer of the underlying assets in India. This position is well known and was reiterated in such cases like Carrasco investments Limited vs. Special Director, Enforcement Directory 79 company cases 631(Delhi) and Venkatasamy Naidu vs. Enforcement Directorate AAR 1992 (Mad) 235.

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Published

2014-10-01

How to Cite

Ramanujam, T. C. A., & Sangeetha, T. C. A. (2014). Clarity on Indirect Transfers. The Management Accountant Journal, 49(10), 66–67. https://doi.org/10.33516/maj.v49i10.66-67p