Investment in Indian Subsidiary Shares Not Taxable: Delhi HC

Angelantoni Test Technologies SRL Vs ACIT (Delhi High Court) Introduction: The present series of writ petitions collectively seek to quash notices issued under Section 148A(b) and orders passed under Section 148A(d) of the Income Tax Act, 1961 (Act). Additionally, the petitioners challenge notices issued under Section 148 of the Act, along with all consequential actions. A pivotal aspect of the challenge revolves around the legality and constitutional validity of Explanation 1 to Section 148 of the Act. Factual Overview: While a common legal question is at the core of these petitions, each cas...