In an order last week on an application filed by the Star Group companies, the Authority for Advance Ruling (AAR) held that restructuring of businesses cannot be construed as an exercise for avoiding tax in India. It further said that any tax benefit resulting from the restructuring of businesses cannot be a ground for income-tax authorities to conclude that the entire exercise was for avoiding tax.
Corporate-Business-restructuring-gets-a-tax-fillip-January-2010
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