Transfer of capital asset by subsidiary company to holding company under scheme of amalgamation not chargeable to income-tax under "capital gains" : Nirmay Properties P. Ltd., In re (Guj) P. 538
Guest (Guest) 04 August 2009
Transfer of capital asset by subsidiary company to holding company under scheme of amalgamation not chargeable to income-tax under "capital gains" : Nirmay Properties P. Ltd., In re (Guj) P. 538
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 04 August 2009
Mr. Pankaj,
Following are the essential conditions to be satisfied by an assessee to charge an income as "Capital Gain".
1. Assessee is holding a capital asset
2. During the previous year relevant to the current assessment year the assessee has transferred capital asset.
3. There must be a profit or loss on transferring the capital asset.
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