Wrong FMV Date and Cost Basis: ITAT Reverses AO’s Computation of Capital Loss

RBS AA Holdings (Netherlands) B.V. Vs DCIT (ITAT Delhi)

AO Applied Wrong Rule, Wrong Date & Wrong FMV—Section 50CA Not Attracted; Cost Must Be Actual ₹13.02/Share; Long-Term Capital Loss Allowed

The Assessee, a Netherlands tax-resident, acquired 23.10 crore shares of its Indian subsidiary RBS Prime Services (India) Pvt. Ltd. in FY 2013-14 through a secondary purchase @ ₹13.02/share. In FY 2017-18, 14.67 crore shares were cancelled/reduced pursuant

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