Deemed capital gains for repurchase of specified investment units, taxed in the year of repurchase or plan termination. The amendment deems the difference between the repurchase price of specified investment units and their capital value to be capital gains in the year of repurchase or plan termination, with 'capital value' defined as the amount invested by the assessee in those units, and requires taxation of such gains in that year.
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 capital gains for repurchase of specified investment units, taxed in the year of repurchase or plan termination.
The amendment deems the difference between the repurchase price of specified investment units and their capital value to be capital gains in the year of repurchase or plan termination, with "capital value" defined as the amount invested by the assessee in those units, and requires taxation of such gains in that year.
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