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Gift by company to subsidiary are dubious & not tax neutral – AAR
Case Law Details
- Case Name
- Re. Orient Green Power Pte. Ltd. (AAR Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
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- Courts
- Advance Rulings
In the context of section 47(i) and (iii), this gift referred to therein, is a gift by an individual or a Joint Hindu Family or a Human Agency. Section 47(iii) speaks of ‘any transfer of a capital asset under a gift, or will or an irrecoverable trust’. Execution of a will involves a human agency. Cannot the expression gift take its colour from a will with which it is juxtaposed, especially in the background of clause (i) of section 47 and clause (ii) which earlier existed.
A gift by a corporation to another corporation (though a subsidiary or an associate enterprise, which is alw...
