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ITAT Chennai

Corporate Veil can be lifted if attempt is to ‘evade’ taxes

December 23, 2005 543 Views 0 comment Print

the Tribunal was right in holding that a sum of Rs.1,25,00,000/- representing the value of technical know-how is liable to tax under the head Long Term Capital Gain the context of Section 45 read with Section 55 of the Income Tax Act, 1961.

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