No Tax Concession to Company as Promoters Gifted Shares to Company instead of Sale to Avoid Capital Gain Tax: Delhi HC [Read Order]

No Tax Concession to - Company as Promoters Gifted Shares - Company instead of Sale to Avoid Capital Gain Tax - Delhi HC - TAXSCAN

In a recent decision the Delhi High Court ruled that there can be no tax concession to company as promoters gifted shares to the company instead of sale to avoid capital gain tax. The Company, M/s The Indian Plywood Mfg. Co. Pvt. Ltd, filed a reference before the BIFR under Section 15(1) of Sick Industrial…

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