Investment in share capital of overseas subsidiaries not to be deemed as an international transactio

IT/ILT : Following order passed in case of Vijai Electricals Ltd. v. Addl. CIT [2013] 60 SOT 77 (URO)/36 taxman.com 386 (Hyd.), it was to be concluded that amount representing investment in share capital of subsidiaries outside India was not in nature of transaction referred to section 92B and, thus, transfer pricing provisions were not applicable to such a transaction