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            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>Deemed dividend on liquidation limits distribution to accumulated profits and alters capital gains computation as described.</h1> Distribution on liquidation is a deemed dividend to the extent of accumulated profits, determined by the fair market value of assets on the distribution date and applicable only to equity shareholders. Such distributions are not transfers by the company, but shareholders receiving money or assets are taxable under Capital Gains: sales consideration equals cash received plus market value of assets on distribution date less the amount assessed as deemed dividend. Cost of acquisition for distributed capital assets is the fair market value on the distribution date, and the post-liquidation period is excluded when determining holding period for capital gains.

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