https://www.taxtmi.com/caselaws?id=443325 The Tribunal dismissed the appeal filed by the assessee, upholding the lower authorities' findings. It confirmed the taxability of the transaction under Section 115-O of the Income-tax Act, 1961, classifying the purchase of own shares as a capital reduction and taxable as a dividend. The Tribunal rejected arguments for taxation under Section 46A, allegations of tax avoidance, and contraventions of DTAA provisions. It also dismissed claims of inconsistent stands by the Revenue, affirming the application of dividend distribution tax to the transaction. en-us Wed, 13 Sep 2023 00:00:00 +0530 Wed, 27 Dec 2023 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443325 The Tribunal dismissed the appeal filed by the assessee, upholding the lower authorities' findings. It confirmed the taxability of the transaction under Section 115-O of the Income-tax Act, 1961, classifying the purchase of own shares as a capital reduction and taxable as a dividend. The Tribunal rejected arguments for taxation under Section 46A, allegations of tax avoidance, and contraventions of DTAA provisions. It also dismissed claims of inconsistent stands by the Revenue, affirming the application of dividend distribution tax to the transaction. Case-Laws Income Tax Wed, 13 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443325