Transfer of joint venture interest not regarded as transfer when exchanged for foreign state company shares under foreign law. Any transfer of a capital asset consisting of an interest in a joint venture held by a public sector company is not regarded as a transfer when exchanged for shares of a company incorporated outside India by the Government of a foreign State under that foreign State's laws; 'joint venture' means a business entity as may be notified by the Central Government in the Official Gazette.
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.
Transfer of joint venture interest not regarded as transfer when exchanged for foreign state company shares under foreign law.
Any transfer of a capital asset consisting of an interest in a joint venture held by a public sector company is not regarded as a transfer when exchanged for shares of a company incorporated outside India by the Government of a foreign State under that foreign State's laws; "joint venture" means a business entity as may be notified by the Central Government in the Official Gazette.
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