Disinvestment of holding in companies by their promoters at high premium where the companies themselves are defaulting in their liability to pay Government dues.
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Promoter capital gains must be examined and taxed where disinvestment occurs amid company defaults on government dues. Promoter sales in telecom companies facing defaults on Government dues must be examined for capital gains tax liability; licence-fee deductions claimed by the company are admissible only if actually paid and may be disallowed where unpaid, with Assessing Officers directed to take appropriate action to bring the income to tax.
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.
Promoter capital gains must be examined and taxed where disinvestment occurs amid company defaults on government dues.
Promoter sales in telecom companies facing defaults on Government dues must be examined for capital gains tax liability; licence-fee deductions claimed by the company are admissible only if actually paid and may be disallowed where unpaid, with Assessing Officers directed to take appropriate action to bring the income to tax.
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