https://www.taxtmi.com/caselaws?id=763682 The Tribunal upheld the decision of the Ld. CIT(A), confirming that the transfer of leasehold rights by the Assessee to its wholly owned subsidiary was not taxable under Section 47(iv) of the Income Tax Act, 1961. The Tribunal found that all statutory conditions were met, as the subsidiary was wholly owned by the Assessee and was an Indian Company. Consequently, the appeal by the Revenue was dismissed, affirming the deletion of the addition made by the Assessing Officer. en-us Wed, 18 Dec 2024 00:00:00 +0530 Thu, 26 Dec 2024 08:45:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763682 The Tribunal upheld the decision of the Ld. CIT(A), confirming that the transfer of leasehold rights by the Assessee to its wholly owned subsidiary was not taxable under Section 47(iv) of the Income Tax Act, 1961. The Tribunal found that all statutory conditions were met, as the subsidiary was wholly owned by the Assessee and was an Indian Company. Consequently, the appeal by the Revenue was dismissed, affirming the deletion of the addition made by the Assessing Officer. Case-Laws Income Tax Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763682