Recently, Hon’ble the Supreme Court reiterated that reduction in share capital is covered under Section 2(47) of the Income Tax Act, 1961 and the assessee is eligible to claim losses.Facts of the Case:Jupiter Capital...
ITAT held that the reserve created on amalgamation is capital in nature and not taxable as perquisite
Recently, the Income Tax Appellate Tribunal, Mumbai held that the reserve created on amalgamation is capital in nature and not taxable as perquisite.Facts of the Case:The appeal is filed by the Deputy Commissioner of...
