https://www.taxtmi.com/caselaws?id=390098 The Tribunal upheld the CIT(A)'s decision that Section 46A of the Income Tax Act applies to gains from the buy-back of shares, rejecting the assessee's argument for exemption under Section 47(iv). The conditions for the Section 47(iv) exemption were not satisfied as the entire share capital was not held by the parent company or its nominees. The Tribunal also affirmed the mandatory chargeability of interest under Section 201(1A), resulting in the dismissal of both appeals by the assessee. en-us Fri, 20 Dec 2019 00:00:00 +0530 Mon, 23 Dec 2019 16:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390098 The Tribunal upheld the CIT(A)'s decision that Section 46A of the Income Tax Act applies to gains from the buy-back of shares, rejecting the assessee's argument for exemption under Section 47(iv). The conditions for the Section 47(iv) exemption were not satisfied as the entire share capital was not held by the parent company or its nominees. The Tribunal also affirmed the mandatory chargeability of interest under Section 201(1A), resulting in the dismissal of both appeals by the assessee. Case-Laws Income Tax Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390098