https://www.taxtmi.com/caselaws?id=178080 Share premium received on issue of equity shares to an associated enterprise could not be brought to tax through a transfer pricing adjustment under Chapter X. The Tribunal applied the jurisdictional High Court view that income arising from an international transaction is a precondition for section 92(1), and held that share capital and share premium are capital receipts outside section 2(24). In the absence of express legislation, such capital receipts cannot be taxed by applying transfer pricing provisions. The alleged undercharged premium and the consequential interest adjustment were therefore held to fall outside Chapter X and were deleted. en-us Wed, 25 Feb 2015 00:00:00 +0530 Wed, 27 Jan 2016 23:21:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178080 Share premium received on issue of equity shares to an associated enterprise could not be brought to tax through a transfer pricing adjustment under Chapter X. The Tribunal applied the jurisdictional High Court view that income arising from an international transaction is a precondition for section 92(1), and held that share capital and share premium are capital receipts outside section 2(24). In the absence of express legislation, such capital receipts cannot be taxed by applying transfer pricing provisions. The alleged undercharged premium and the consequential interest adjustment were therefore held to fall outside Chapter X and were deleted. Case-Laws Income Tax Wed, 25 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178080