Any Loss Icnurred Due To Transfer Of Business Along With Wori N Progress To 100% Susididary Is Not Allowable
Description: S.47 (iv): Capital gains – Capital loss – Transfer of business and work-in-progress – 100 per cent subsidiary. Assessee transferred business and work- in – progress to hundred percent subsidiary, which is Indian company, In view of provisions of section 47 (iv), capital gains on such transfer of capital asset was not chargeable to […]
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