Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Deemed income from securities transfers: anti-avoidance rules treat diverted interest as the original owner's taxable income. Anti-avoidance deeming treats interest (including dividends) receivable by another person after sale and reacquisition of the same or similar securities ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Deemed income from securities transfers: anti-avoidance rules treat diverted interest as the original owner's taxable income.
Anti-avoidance deeming treats interest (including dividends) receivable by another person after sale and reacquisition of the same or similar securities as the income of the original owner; parallel deeming applies where a beneficial owner's income is reduced by transactions. The Assessing Officer may require particulars and can be satisfied that no avoidance occurred. Traders dealing in securities may have buy-back transactions ignored for business profit computation. Short-window purchases around record dates have loss-ignoring rules and treated cost adjustments for allotted additional securities or units.
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