https://www.taxtmi.com/caselaws?id=348833 The High Court dismissed all six appeals by the Revenue, ruling that the share premium received by the respondent-assessees is of a capital nature and not taxable as income. The court upheld the Tribunal's decision that share premium falls under the capital account and cannot be taxed as profits and gains of business under section 28(iv) of the Income-tax Act, 1961. The court relied on established legal principles and case laws like Vodafone India Services Pvt. Ltd. and G. S. Homes and Hotels P. Ltd. to support its conclusion. en-us Thu, 08 Jun 2017 00:00:00 +0530 Tue, 19 May 2026 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348833 The High Court dismissed all six appeals by the Revenue, ruling that the share premium received by the respondent-assessees is of a capital nature and not taxable as income. The court upheld the Tribunal's decision that share premium falls under the capital account and cannot be taxed as profits and gains of business under section 28(iv) of the Income-tax Act, 1961. The court relied on established legal principles and case laws like Vodafone India Services Pvt. Ltd. and G. S. Homes and Hotels P. Ltd. to support its conclusion. Case-Laws Income Tax Thu, 08 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348833