Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure 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-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Deemed transfer on dissolution or reconstitution triggers taxability of gains in the hands of the specified entity. Section 9B treats receipt of a capital asset or stock-in-trade by a specified person from a specified entity on dissolution or reconstitution as a deemed transfer by the specified entity in the year of receipt; resulting profits or gains are taxable as the specified entity's income under Profits and Gains of Business or Capital Gains, and fair market value on the date of receipt is deemed the full value of consideration. Definitions of specified entity, specified person, and reconstitution are provided, and the Board may issue binding guidelines to remove implementation difficulties.
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.
Provisions expressly mentioned in the judgment/order text.
Deemed transfer on dissolution or reconstitution triggers taxability of gains in the hands of the specified entity.
Section 9B treats receipt of a capital asset or stock-in-trade by a specified person from a specified entity on dissolution or reconstitution as a deemed transfer by the specified entity in the year of receipt; resulting profits or gains are taxable as the specified entity's income under Profits and Gains of Business or Capital Gains, and fair market value on the date of receipt is deemed the full value of consideration. Definitions of specified entity, specified person, and reconstitution are provided, and the Board may issue binding guidelines to remove implementation difficulties.
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