https://www.taxtmi.com/news?id=2701 Applying a substance over form test, the transaction was a bona fide offshore FDI transfer of a foreign holding company effected outside the country and did not amount to extinguishment or transfer of assets situated domestically; absent express legislation a judicial look through cannot shift the situs of assets, capital gains are governed by the ordinary capital gains rules and domestic withholding applies only where payments have a sufficient territorial residence nexus. en-us Fri, 20 Jan 2012 23:23:14 +0530 Fri, 20 Jan 2012 23:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2701 Applying a substance over form test, the transaction was a bona fide offshore FDI transfer of a foreign holding company effected outside the country and did not amount to extinguishment or transfer of assets situated domestically; absent express legislation a judicial look through cannot shift the situs of assets, capital gains are governed by the ordinary capital gains rules and domestic withholding applies only where payments have a sufficient territorial residence nexus. News - Fri, 20 Jan 2012 23:23:14 +0530 https://www.taxtmi.com/news?id=2701