{"id":28982,"date":"2022-08-02T11:05:47","date_gmt":"2022-08-02T05:35:47","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-acquire-services-pvt-ltd-2022-93-itr-613-delhitrib-2\/"},"modified":"2022-08-02T11:05:47","modified_gmt":"2022-08-02T05:35:47","slug":"dy-cit-v-acquire-services-pvt-ltd-2022-93-itr-613-delhitrib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-acquire-services-pvt-ltd-2022-93-itr-613-delhitrib-2\/","title":{"rendered":"Dy. CIT v. Acquire Services Pvt. Ltd. (2022) 93 ITR 613 (Delhi)(Trib.)"},"content":{"rendered":"<p>The assessee considered the redemption of preference shares including the premium\u00a0 was considered as capital gains. The Assessing Officer held that the redemption of preference shares cannot be treated a transfer and held that premium on preference shares assessable as income from other sources and not as capital gains. On appeal the CIT(A) held that premium also part of\u00a0 full consideration received hence assessable as capital gains. On appeal by the Revenue, the Tribunal affirmed the order of the CIT(A). Referred\u00a0 Vania Silk Mills (P)Ltd v. CIT (1991)\u00a0 191 ITR 647 (SC)\u00a0 Anarkali Sarabhai v. CIT (1997) \u00a0224 TR 422 (SC), CIT v. Enam Securities\u00a0 (P)Ltd\u00a0 (2012) 345 ITR 64 (Bom.)(HC). (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45 : Capital gains-Transfer-Redemption-Indexation-Redemption of preference shares is a sale and also transfer of relinquishment of asset by share holder-Assessable as capital gains and not as income from other sources. [S. 2(47), 48, 56] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-28982","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7xs","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28982"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28982\/revisions"}],"predecessor-version":[{"id":28983,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28982\/revisions\/28983"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}