Section 47

Sec. 2(14), Sec. 115JB, Section 45, Section 47, Section 92

AAR : Whether on the facts and circumstances of the case, the investment held by Praxair Pacific Ltd. (hereinafter referred to as the “applicant”), in equity shares of Jindal Praxair Oxygen Company (P) Ltd. (“JPOCPL”) would be considered as “capital asset” under s. 2(14) of the IT Act, 1961 (“the Act”) ?

Authority For Advance Rulings Praxair Pacific Ltd., In Re Section 2(14), 45, 47(iv), 92, 115JB, DTAA between India & Mauritius,

Sec. 2(47), Section 45, Section 47

Karnataka H.C : Whether the colorable device adopted by the assessee in admitting two new partners namely, Sri. M. Venkataramaiah and Smt. Sujatha Venkataramaiah and permitting all the old partners to retire from the firm by receiving a consideration amount of Rs. 16,55,647 from the old partners (sic) would amount to a transfer attracting the capital gains provision as per the IT Act ?

High Court Of Karnataka CIT & ANR. vs. Gurunath Talkies Section 2(47), 45(3), 45(4), 47(ii) Asst. Year 1995-96 D.V. Shylendra

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