India: Reassessment proceedings inapplicable to capital account transaction (High Court decision)

Transaction did not give rise to any income

Transaction did not give rise to any income

The Delhi High Court held that reassessment proceedings did not apply to a foreign company's capital account transaction of investment in shares of an Indian subsidiary because the transaction did not give rise to any income.

The case is: Angelantoni Test Technologies SRL v. ACIT

Read a January 2024 report [PDF 390 KB] prepared by the KPMG member firm in India



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