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HomeDirect TaxDept. Can’t Sit in Armchair of Businessman; Upholds Section 47(iv) Exemption on...

Dept. Can’t Sit in Armchair of Businessman; Upholds Section 47(iv) Exemption on Intra-Group Share Transfer: ITAT

Direct Tax

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By Mariya Paliwala
ITAT

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The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that tax authorities cannot question a taxpayer’s commercial decisions merely because a transaction results in a tax benefit.  The bench of George George K (Vice President) and Padmavathy.S (Accountant Member) has ruled in favour of French company Valeo Bayen and deleted the addition…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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