Wednesday, July 25, 2018

HC justified ITAT’s direction of examining FMV of shares bought back by ‘Fedility’ at abnormally high prices

IT : Where assessee bought back shares from its holding company at Mauritius at an abnormally high price, Tribunal was perfectly justified in directing an enquiry into fair market value of shares of assessee Company which could have an implication of taxability under section 2(22)(e).

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000182531/hc-justified-itat’s-direction-of-examining-fmv-of-shares-bought-back-by-‘fedility’-at-abnormally-high-prices.aspx

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