https://www.taxtmi.com/caselaws?id=204589 The court held that the capital gains arising from the sale of shares of Idea Cellular Limited accrued to NCWS and were taxable in India. Indian Rayon was treated as an agent of NCWS and MMMH for tax purposes. The court did not address the exemption under Section 10(23G) directly. The certificate obtained under Section 195(2) was deemed invalid. Assessing proceedings against residents and non-residents could proceed simultaneously. Notices issued under Section 148 were upheld, and orders under Sections 201(1) and 163 were also upheld against TIL. The outcome resulted in the dismissal of certain writ petitions and partial allowance of one. en-us Thu, 14 Jul 2011 00:00:00 +0530 Sat, 21 Apr 2012 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204589 The court held that the capital gains arising from the sale of shares of Idea Cellular Limited accrued to NCWS and were taxable in India. Indian Rayon was treated as an agent of NCWS and MMMH for tax purposes. The court did not address the exemption under Section 10(23G) directly. The certificate obtained under Section 195(2) was deemed invalid. Assessing proceedings against residents and non-residents could proceed simultaneously. Notices issued under Section 148 were upheld, and orders under Sections 201(1) and 163 were also upheld against TIL. The outcome resulted in the dismissal of certain writ petitions and partial allowance of one. Case-Laws Income Tax Thu, 14 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204589