AAR : Gain on Shares of Company Having Immovable Property Taxable in India

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Authority of Advance Ruling on a petition  of  Mrs. Punnika Parikh [2012] 19 taxmann.com 314 (AAR – New Delhi) has held that the gain on sale of shares of a company which derives its value from immovable property owned by the company in India , is taxable in India under Article 13.4 . The facts of…