Court :
HC
Brief :
Held by the Hon`ble Court that as the transfer of asset is not one in the nature of transfer of assets from subsidiary to holding as covered by section 47(v) but is distribution of assets to the shareholders upon the liquidation of the company, hence the said transfer of assets is covered by section 46(2) for he purpose of capital gains.
Citation :
C.I.T. Vs. Brahmi Investments P.Ltd.
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