Supreme Court · 2025 INSC 38 · Decided 1 January 2025
Principal Commissioner of Income TAX-4 & ANR. v. M/S Jupiter Capital PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2025 INSC 38 · [2025] 1 S.C.R. 431
- Case number
- SPECIAL LEAVE PETITION (CIVIL) No. 63/2025
- Decided
- 1 January 2025
- Bench
- J.B. PARDIWALA, R MAHADEVAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 2(47)
Headnote
Whether reduction in share capital is covered under "sale, exchange or relinquishment of the asset" used in Section 2(47) of the Income Tax Act, 1961. Income Tax Act, 1961 - s.2(47) - "sale, exchange or relinquishment of Reduction in share capital, if covered within the expression "sale, exchange or relinquishment of the asset": Held: Yes - Reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee, is squarely covered within
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