Tuesday, 15 April 2014

CIT(A) couldn't cast TDS burden on foreign co. on purchase of Indian shares unless payment was taxab

IT/ILT : Where assessee, a French company, purchased shares of an Indian company from NRIs, Assessing Officer without ascertaining as to whether amount so paid was chargeable to tax in India, could not conclude that assessee was liable to deduct tax at source while making said payments


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