https://www.taxtmi.com/caselaws?id=436977 The court condoned a 200-day delay in filing the appeal by the appellant/revenue. The case focused on the interpretation of Section 47(iv) of the Income Tax Act, 1961, regarding the exemption of income from the transfer of "Trunk Infrastructure Asset" to a subsidiary. The Tribunal found that the transfer met the conditions of Section 47(iv), as it was to a 100% Indian subsidiary, and ruled that the surplus was not taxable income. The HC upheld the Tribunal's decision, determining no substantial question of law existed, and dismissed the appeal. en-us Wed, 29 Mar 2023 00:00:00 +0530 Thu, 11 Jan 2024 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436977 The court condoned a 200-day delay in filing the appeal by the appellant/revenue. The case focused on the interpretation of Section 47(iv) of the Income Tax Act, 1961, regarding the exemption of income from the transfer of "Trunk Infrastructure Asset" to a subsidiary. The Tribunal found that the transfer met the conditions of Section 47(iv), as it was to a 100% Indian subsidiary, and ruled that the surplus was not taxable income. The HC upheld the Tribunal's decision, determining no substantial question of law existed, and dismissed the appeal. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436977