Correct head of income - sale consideration received by the ...

Redemption of preference shares, including premium, taxed as capital gains, per Commissioner of Income Tax (Appeals).

January 7, 2022

Case Laws Income Tax AT

Correct head of income - sale consideration received by the assessee from redemption of preference shares including the premium- capital income or income from other sources - CIT(A) has given a finding that the investment in redemption of preference shares was clearly based on the condition that the assessee was entitled to receive redemption fair market value of shares apart from premium amount and therefore the receipt of premium was part of full value of consideration received on redemption of shares. - the same is to be subject to tax under the head capital gains - AT

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Correct head of income - sale consideration received by the ...

Redemption of preference shares, including premium, taxed as capital gains, per Commissioner of Income Tax (Appeals).

January 7, 2022

Case Laws Income Tax AT

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