Transactions not regarded as transfer. - Central Government notifies transfer of capital asset from NLC India Limited u/s 47(viiaf) of IT Act 1961 - 122/2024 - Income Tax Act, 1961
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Transfer not regarded as transfer: capital asset moved between public sector companies under government approved reorganisation, exempting it from transfer charge. Notification declares that the capital asset transfer from NLC India Limited to NLC India Renewables Ltd is not to be treated as a transfer for income-tax purposes under the statutory clause permitting exclusion for government approved intra public sector reorganisations, and that the notification takes effect from its publication 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 not regarded as transfer: capital asset moved between public sector companies under government approved reorganisation, exempting it from transfer charge.
Notification declares that the capital asset transfer from NLC India Limited to NLC India Renewables Ltd is not to be treated as a transfer for income-tax purposes under the statutory clause permitting exclusion for government approved intra public sector reorganisations, and that the notification takes effect from its publication in the Official Gazette.
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