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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income Tax Act Section 47 amended: Transfer from subsidiary to Indian holding company not taxable if 100% owned.</h1> Section 47 of the Income Tax Act is amended to include a new clause. This clause specifies that any transfer of a capital asset from a subsidiary company to its holding company will not be considered a taxable event if the entire share capital of the subsidiary is owned by the holding company and the holding company is an Indian company. This amendment is part of the Finance Act, 1965.
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