Taxable securities transaction expanded to include sales of unlisted business trust units offered in an initial offer and later listed. The amendment adds a definition of initial offer by reference to securities regulations for real estate and infrastructure investment trusts, and extends the taxable securities transaction category to include sales of unlisted business trust units acquired under an offer for sale included in an initial offer, where those units are subsequently listed on a recognised stock exchange.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxable securities transaction expanded to include sales of unlisted business trust units offered in an initial offer and later listed.
The amendment adds a definition of initial offer by reference to securities regulations for real estate and infrastructure investment trusts, and extends the taxable securities transaction category to include sales of unlisted business trust units acquired under an offer for sale included in an initial offer, where those units are subsequently listed on a recognised stock exchange.
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