Non-recognition of transfers in amalgamation and demerger for foreign-company shares deriving value from Indian companies, and mutual fund consolidations. Amendments exclude from transfer treatment shares of a foreign company that substantially derive value from Indian company shares when moved in amalgamations or demergers, subject to shareholder continuity and non-taxation conditions, and exclude unit-holder exchanges in mutual fund scheme consolidations under applicable securities regulations, with definitions for consolidating/consolidated schemes and equity orientation.
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Provisions expressly mentioned in the judgment/order text.
Non-recognition of transfers in amalgamation and demerger for foreign-company shares deriving value from Indian companies, and mutual fund consolidations.
Amendments exclude from transfer treatment shares of a foreign company that substantially derive value from Indian company shares when moved in amalgamations or demergers, subject to shareholder continuity and non-taxation conditions, and exclude unit-holder exchanges in mutual fund scheme consolidations under applicable securities regulations, with definitions for consolidating/consolidated schemes and equity orientation.
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