Bombay High Court Quashes Reassessment Order in Capital Gains Tax Case — Transfer of Shares by Non-Resident Not Taxable as No Capital Asset in India. Shares of a foreign company held not to be a capital asset situated in India under Section 2(14) of the Income Tax Act, 1961, and transfer not taxable under Section 9(1)(i) as income deemed to accrue or arise in India.
18 Mar 2016The Petitioner, Techpac Holdings Ltd., a company incorporated in Bermuda and a non-resident, challenged an Assessment Order dated 25th March 2013 pass...
