https://www.taxtmi.com/caselaws?id=6603 The Advance Ruling Authority held that the amalgamation of the companies did not give rise to any capital gains, exempting them from capital gains tax under section 47(via) of the Income-tax Act. The ruling emphasized that no transfer for consideration occurred in the amalgamation of a wholly owned subsidiary foreign company with its parent company, aligning with legal principles and a previous Supreme Court decision. Consequently, the questions regarding the computation of capital gains tax and the applicability of tax rates became irrelevant in light of the primary ruling on the exemption from capital gains tax. en-us Mon, 22 Jan 2007 00:00:00 +0530 Thu, 15 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6603 The Advance Ruling Authority held that the amalgamation of the companies did not give rise to any capital gains, exempting them from capital gains tax under section 47(via) of the Income-tax Act. The ruling emphasized that no transfer for consideration occurred in the amalgamation of a wholly owned subsidiary foreign company with its parent company, aligning with legal principles and a previous Supreme Court decision. Consequently, the questions regarding the computation of capital gains tax and the applicability of tax rates became irrelevant in light of the primary ruling on the exemption from capital gains tax. Case-Laws Income Tax Mon, 22 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6603