Appeal maintainable against determination of Section 115QA liability: SC

Genpact India Private Limited Vs DCIT (Supreme Court) Section 115QA of the Income Tax Act, 1961 stipulates that in case of buy back of shares referred to in the provisions of said Section, the company shall be liable to pay additional income tax at the rate of 20% on the distributed income. Any determination in that behalf, be it regarding quantification of the liability or the question whether such company is liable or not would be matters coming within the ambit of the first postulate referred to hereinabove. Similar is the situation with respect to provisions of Section 246A(1)(a) where aga...