https://www.taxtmi.com/caselaws?id=297659 A transfer of only equity shares in an Indian subsidiary was treated as a share transfer, not a slump sale, because the subsidiary's underlying assets and liabilities remained with the company and the transaction did not amount to transfer of the undertaking itself. On that basis, the capital gains were stated to be taxable at 10 per cent under section 112(1)(c)(iii). The consideration was considered ascertainable from the valuation report and discounted cash flow method, so the deeming rule in section 50D and the reference mechanism in section 55A were said to be inapplicable. The section 56(2)(viia) point was treated as irrelevant to the seller, and the permanent establishment objection was regarded as redundant. en-us Mon, 29 Jul 2019 00:00:00 +0530 Thu, 16 Sep 2021 09:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297659 A transfer of only equity shares in an Indian subsidiary was treated as a share transfer, not a slump sale, because the subsidiary's underlying assets and liabilities remained with the company and the transaction did not amount to transfer of the undertaking itself. On that basis, the capital gains were stated to be taxable at 10 per cent under section 112(1)(c)(iii). The consideration was considered ascertainable from the valuation report and discounted cash flow method, so the deeming rule in section 50D and the reference mechanism in section 55A were said to be inapplicable. The section 56(2)(viia) point was treated as irrelevant to the seller, and the permanent establishment objection was regarded as redundant. Case-Laws Income Tax Mon, 29 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297659