Amalgamation Shares Taxable Only If Real Income Arises

Jindal Equipment Leasing Consultancy Services Ltd. Vs CIT (Supreme Court of India) Amalgamation Isn’t Automatic Income: Supreme Court Links Business Taxability to Real, Marketable Gains Amalgamation—Taxability of Shares Held as Stock-in-Trade Depends on Real Commercial Realisation-Supreme Court: The Supreme Court, in Jindal Equipment Leasing Consultancy Services Ltd. & Ors. v. CIT (2026 INSC 46), examined whether the allotment of shares of an amalgamated company, in lieu of shares of the amalgamating company held as stock-in-trade, gives rise to taxable business income under Section 28...