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Capital gains on liquidation: shareholder distributions taxed as capital gains after reducing assessed dividend component. Distributions of a company's assets on liquidation are not treated as a transfer by the company; amounts or market value of assets received by a shareholder on liquidation are taxable as capital gains after reducing any amount assessed as a dividend, and that net sum is deemed the full value of consideration for capital gains computation.
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.
<h1>Capital gains on liquidation: shareholder distributions taxed as capital gains after reducing assessed dividend component.</h1> Distributions of a company's assets on liquidation are not treated as a transfer by the company; amounts or market value of assets received by a shareholder on liquidation are taxable as capital gains after reducing any amount assessed as a dividend, and that net sum is deemed the full value of consideration for capital gains computation.
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