S. 47(iv) :Capital gains-Transaction not regarded as transfer-Capital gains Subsidiary-Prerequisites provided to Indian subsidiary company-Assessee inadvertently offered receipt for levy of tax-Tax could not be levied as receipt did not constitute income-Income-tax leviable only in accordance with provisions of Income-tax Act-Admission by assessee is not conclusive. [S.4, 45]
PCIT v. Ansal Properties and Infrastructure Ltd (2023) 152 taxmann.com 49 / (2024) 460 ITR 341 (Delhi) (HC)