AAR held that the capital gains on transfer of equity shares in IEE would be taxable in the hands of the applicant at the rate of 10 per cent. in accordance with section 112(1)(c)(iii) of the Income-tax Act, 1961. (AY. 2013-14)
Psit Pty Ltd, in re. (2021)436 ITR 474 (AAR)
S. 50D : Fair market value deemed to be full value of consideration in certain shares-Non-Resident-Capital gains-Sale of share-Not slump sale-Capital gains chargeable to taxable ten percent. [S. 45, 55A, 56(2)(viia), 112(1)(c)(iii)]