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No Capital Gain on buyout of shares as per SC order
Case Law Details
- Case Name
- Sheetala Credit & Holdings Private Limited Vs ITO (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All High Courts, Madras High Court
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Sheetala Credit & Holdings Private Limited Vs ITO (Madras High Court)
High Court held that assessing authority has rightly concluded that there is no capital gains that arises from the transaction since the entire transaction was a buyout of shares by virtue of order of the Apex Court. The officer, in this regard refers to the statement of the Apex Court that the transaction ‘does not amount to shares being transferred inter vivos, nor can the payment for the shares be treated as deemed dividend’. Thus the clear inference that the officer has arrived at, is th...
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