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of <h1>High Court Evaluates Taxation of Share Buyback Under Income Tax Act, 1961; Interim Relief Granted with Conditions.</h1> The High Court addressed the taxation of a share buyback scheme under the Income Tax Act, 1961, focusing on whether the proceeds should be taxed as a dividend or capital gain. The appellant, a corporate entity, contested the Income Tax Appellate Tribunal's (ITAT) decision, which classified the buyback proceeds as a dividend. The court granted interim relief, requiring the appellant to pay part of the demanded tax and provide property security. This decision balances the appellant's operational needs with the Revenue's interest and contributes to the evolving legal interpretations of share buyback taxation.
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