Preference Share Redemption not taxable as deemed dividend & amounts to ‘transfer’

Parle Biscuits Pvt. Ltd. Vs ACIT (ITAT Mumbai)- It is  held that redemption of preference shares amounts to ‘transfer’ of a capital asset under the Income-tax Act and any loss on redemption thereon would thus be allowable as a capital loss. The Tribunal, relyied on the Supreme Court dec

Please become a Premium member. If you are already a Premium member, login here to access the full content.