Thanks for the response.
Lets take cases like Bharti Infratel and IDFC Bank (both listed companies) by the parent Bharti Airtel and IDFC respectively. When Airtel sold 2000 crores last year in the market, what tax would they have paid?
Is it seen as a capital gain with indexation (indexed 20%) or with STT benefits (LTCG – 0%). Can they claim 10% without indexation?
Or is it seen as business income taxed at 30%+ surcharge + cess etc?
Interestingly, I saw a Colgate Palmolive case where the loss of a 100% unlisted subsidiary was argued as a business loss with IT Tribunal. So, what is seen as business income, other income with indexation ?
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