Cairn UK eligible to claim Benefit of reduced tax rate U/s. 112(1) on sale of equity shares of Cairn India

ACIT (International Taxation) Vs Cairn UK Holding Ltd. (ITAT Delhi) This is an appeal by the Revenue against order dated 19.12.2016 of learned Commissioner (Appeals)-42, New Delhi, for the assessment year 2012-13. 2. The only effective ground raised by the assessee reads as under: “Whether the Ld. CIT (A) has erred in law and on facts of the case in holding that the assessee is entitled to benefit of proviso to section 112(1) of the Act on sale of the equity shares in question.” 3. We have heard Sh. Percy Pardiwalla, learned Senior Counsel appearing for the assessee and Ms. Sapna Bhatia, l...