Budget 2012 Income Tax: Retrospective Amendment to Section 2(14) to defeat the Supreme Court Ruling in Vodafone Tax Case
In the budget proposals of 2012 an explanation has been inserted in Section 2(14) i.e. the definition of “Capital Asset” to include “any rights in or in relation to an Indian company, including rights of management or control or any other rights whatsoever” as a capital asset. So any sale of rights in relation to…