Indian High Court accepts planning to exploit loopholes in Bhoruka Engineering

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Indian High Court accepts planning to exploit loopholes in Bhoruka Engineering

Joe Dalton
June 18 2013
bhoruka-small.jpg

Tax planning by Bhoruka Engineering (Bhoruka) to avoid capital gains tax on a share sale which effectively transferred immoveable property between two entities has been deemed acceptable by the Karanataka High Court. Advisers say there is nothing to stop other taxpayers taking advantage.

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