https://www.taxtmi.com/caselaws?id=179873 The Court set aside the orders of the Transfer Pricing Officer, Assessing Officer, and Dispute Resolution Panel, which sought to tax income from international transactions arising from the issuance of equity shares and Compulsory Convertible Debentures to non-resident Associated Enterprises. The Court held that such transactions do not generate income under the Income Tax Act, referencing the Vodafone IV case to establish that Chapter X of the Act applies only to income, not capital account transactions like issuing shares. The Petition was allowed, and no costs were awarded. en-us Wed, 19 Nov 2014 00:00:00 +0530 Fri, 11 Mar 2016 11:28:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179873 The Court set aside the orders of the Transfer Pricing Officer, Assessing Officer, and Dispute Resolution Panel, which sought to tax income from international transactions arising from the issuance of equity shares and Compulsory Convertible Debentures to non-resident Associated Enterprises. The Court held that such transactions do not generate income under the Income Tax Act, referencing the Vodafone IV case to establish that Chapter X of the Act applies only to income, not capital account transactions like issuing shares. The Petition was allowed, and no costs were awarded. Case-Laws Income Tax Wed, 19 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179873