https://www.taxtmi.com/caselaws?id=75945 The court ruled in favor of the applicant, stating that no profit or gain accrued from the transfer of shares, therefore no capital gains tax liability arose. Transfer pricing provisions were deemed inapplicable as no income arose under relevant sections. Consequently, the obligation to withhold tax under section 195 of the IT Act was also dismissed. The ruling, issued on February 23, 2010, answered all three questions in the negative, indicating no tax liability for the proposed share contribution. en-us Tue, 23 Feb 2010 00:00:00 +0530 Thu, 31 Jan 2013 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75945 The court ruled in favor of the applicant, stating that no profit or gain accrued from the transfer of shares, therefore no capital gains tax liability arose. Transfer pricing provisions were deemed inapplicable as no income arose under relevant sections. Consequently, the obligation to withhold tax under section 195 of the IT Act was also dismissed. The ruling, issued on February 23, 2010, answered all three questions in the negative, indicating no tax liability for the proposed share contribution. Case-Laws Income Tax Tue, 23 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75945