2019 (3) TMI 1603 - HC - Income Tax

International transaction - transaction of subscription of shares - delay in issuing the shares - ALP determination - HELD THAT - Appeal is admitted for consideration of following substantial question of law - Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the transaction of subscription of shares comes within the ambit of international transaction and, if there is a delay in issuing the shares, arm's length price is required to be computed for determining whether interest would have been charged to such an unrelated transaction?

Summary

The High Court of Bombay admitted an appeal to consider the substantial question of law regarding the international transaction of subscription of shares and the computation of arm's length price in case of delayed share issuance. The Registry was directed to communicate the order to the Tribunal for further proceedings. (2019 (3) TMI 1603 - BOMBAY HIGH COURT)