https://www.taxtmi.com/caselaws?id=355350 The Authority ruled that the Applicant, a Japanese corporation, is entitled to a 10% tax rate on long-term capital gains from the sale of shares under the proviso to section 112(1) of the Income Tax Act, 1961, despite not being eligible for indexation. The Authority also allowed the deduction of expenses incurred for the transfer of shares under section 48 of the Act, stating that the expenses were wholly and exclusively connected to the transfer. The ruling was pronounced on 7th February 2018. en-us Wed, 07 Feb 2018 00:00:00 +0530 Wed, 28 Feb 2018 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355350 The Authority ruled that the Applicant, a Japanese corporation, is entitled to a 10% tax rate on long-term capital gains from the sale of shares under the proviso to section 112(1) of the Income Tax Act, 1961, despite not being eligible for indexation. The Authority also allowed the deduction of expenses incurred for the transfer of shares under section 48 of the Act, stating that the expenses were wholly and exclusively connected to the transfer. The ruling was pronounced on 7th February 2018. Case-Laws Income Tax Wed, 07 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355350