INCOME TAX : Application for advance ruling on whether applicant is liable to pay any capital gains tax on transfer of shares and on receipt of dividend in kind could not be declined on ground that it involved valuation and it had been designed prima-facie for avoidance of tax, as issue of valuation and fair market value of shares are relevant for computation of capital gains and revenue had not been able to make out as to how said transaction was designed for avoidance of taxINCOME TAX : Application for advance ruling on whether applicant is liable to pay any capital gains tax on transfer of shares and on receipt of dividend in kind could not be declined on ground that it involved valuation and it had been designed prima-facie for avoidance of tax, as issue of valuation and fair market value of shares are relevant for computation of capital gains and revenue had not been able to make out as to how said transaction was designed for avoidance of taxwww.taxmann.com Latest Case LawsRead More
