Indian Co. couldn't be treated as agent if its shares held by foreign co. were sold to another foreign Co.

IT : Where certain shares of assessee, an Indian company, were held by a foreign company which were subsequently transferred to another non-resident company, in view of fact that transfer took place outside India and assessee had no role in such transfer, it could not be treated as agent of foreign company under sec. 163(1) (c) qua deemed capital gain purportedly earned by foreign company

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