Recently, the Ahmedabad Bench of the Income Tax Appellate Tribunal (“ITAT”) upheld the order of the learned Commissioner of Income Tax (appeals) treating the transfer of “Treasury Business” as non-compliant demerger u/s...
STAMP DUTY EXEMPTION ON TRANSFER OF SHARES AS PART OF MERGER OF SUBSIDIARIES
A Writ Petition was filed by Ambuja Cements Limited (hereinafter “the Petitioner” or “ACL”), challenging the imposition of stamp duty on a merger order under Article 23 of Schedule IA of the Indian Stamp Act, 1899 by...
