{"id":3451,"date":"2018-12-28T11:24:59","date_gmt":"2018-12-28T11:24:59","guid":{"rendered":"http:\/\/itatonline.org\/digest\/jupiter-capital-pvt-ltd-v-acit-bangtrib-www-itatonline-org\/"},"modified":"2018-12-28T11:24:59","modified_gmt":"2018-12-28T11:24:59","slug":"jupiter-capital-pvt-ltd-v-acit-bangtrib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/jupiter-capital-pvt-ltd-v-acit-bangtrib-www-itatonline-org\/","title":{"rendered":"Jupiter Capital Pvt. Ltd. v. ACIT (Bang)(Trib), www.itatonline.org"},"content":{"rendered":"<p><strong>Allowing the appeal of the assessee the Tribunal held that; The reduction of share capital of a company by way of reducing the face value of each share from Rs. 1,000 to Rs. 500 amounts to &#8220;extinguishment of rights&#8221; and is a &#8220;transfer&#8221; u\/s 2(47) of the Act. The assessee is eligible to claim a capital loss therefrom followed\u00a0 (Kartikeya V. Sarabhai v. CIT\u00a0 (1998) 228 ITR 163 (SC). <\/strong>\u00a0(ITA No. 445\/Bang\/2018, dt. 29.11.2018) (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45 : Capital loss-Transfer-The reduction of share capital of a company by way of reducing the face value of each share from Rs. 1,000 to Rs. 500 amounts to &#8220;extinguishment of rights&#8221; and is a &#8220;transfer&#8221; u\/s 2(47) of the Act- The assessee is eligible to claim a capital loss therefrom followed  (Kartikeya V. Sarabhai v. CIT (1998)  228 ITR 163 (SC).  [S. 2(47)]<\/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":[1],"tags":[],"class_list":["post-3451","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-TF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3451","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=3451"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3451\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}