The ITAT has held that no taxability arises in the absence of any income escapement on repatriating Rs. 203.56 Cr arising from NCDs redemption
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that no taxability arose as there was no escapement of income on repatriating Rs.203.56 Cr. arising from redemption of non-convertible debentures ( NCDs ). BCP V Singapore FVCI Pvt Ltd., the assessee is a company and has not filed a return of…
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