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Delhi HC to Tax Department: 100% Shareholding Doesn’t Make You Owner of Company’s Property
Case Law Details
- Case Name
- CIT Vs Pradeep Wig (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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CIT Vs Pradeep Wig (Delhi High Court)
Delhi HC to Tax Department: 100% Shareholding Doesn’t Make You Owner of Company’s Property
In a significant ruling on offshore structures, beneficial ownership and corporate veil, the Delhi High Court held that merely because Indian residents held 100% shares in a foreign company, the rental income and capital gains earned by that company abroad cannot be taxed in the hands of the shareholders. The Court dismissed the Department’s attempt to invoke the doctrine of “substance over form” and clarified that a company remains a separ...
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