The Bombay High Court has granted an exemption to Foreign Institutional Investors (FII) in the matter of capital gains from alienation of any property taxable in Singapore. The HC was hearing an appeal filed by the Commissioner of Income Tax.
The Bombay High Court has granted the capital gains exemption to Foreign Institutional Investors (FII).The bench of Justice K.R. Shriram and Justice Firdosh P. Pooniwalla has observed that Singapore.