No capital gains tax on Sanofi for Shantha deal: HC
ENS Economic Bureau: Hyderabad, New Delhi, Feb 16 2013, 02:14 IST
by the French company Sanofi is not a design for tax avoidance. The transaction is chargeable to tax in France, in terms of the provisions of the DTAA, and retrospective amendments to the Income Tax Act have no impact on the DTAA.
Earlier also, the Andhra Pradesh High Court had dismissed the plea of the tax authorities against the Authority for Advanced Rulings (AAR) admission of Sanofi’s application regarding the Shantha Biotech deal.
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