Rule 40BB of the Income Tax Rules, 1962, is subjected to buyback tax.
24. Considering the above provisions of the Act, the assessing officer
noticed ... that the company should pay the buyback tax on amount
vide letter dated 07.02.2012 Annexure C-1, the opposite parties also offered buyback option @18,000/- per square yard, after two years from the date ... vide letter dated 11.08.2014 Annexure C-4, requested them to honour buyback offer or in the alternative to start paying the amount
deletion of disallowance of Rs.28,21,321/- being
expenditure on share buyback expenses. Briefly stated facts of the case are that the
assessee company ... wrong in disallowing the sum of Rs.28,21,321/- being share buyback
expenses on the ground that the same is capital in nature
assessee by the AO is
correct and Justified as the buyback transaction has taken place
after introduction of law.
3. On the fact and circumstances ... denied on the ground that the
unlisted companies have entered in buyback of its shares from the assessee.
However, such unlisted companies have not fulfilled
assessee by the AO is
correct and Justified as the buyback transaction has taken place
after introduction of law.
3. On the fact and circumstances ... denied on the ground that the
unlisted companies have entered in buyback of its shares from the assessee.
However, such unlisted companies have not fulfilled
acquired
ITA No. 967/Del/2023
it's own shares through buyback of shares @ Rs.313.40 per share
against the fair market value ... Assessing Officer ("AO") raised the issue of buyback of
shares and applicability of provisions of section
Exchange.
3. SIL published a series of advertisements regarding a proposed buyback of 10% of the share capital (3.5 million shares ... would meet on July 1, 2002 to consider the abovementioned buyback. The Board of Directors met on July 1, 2002 and decided
investment
made by him can be bought back by exercising the buyback option in
terms of clause (ii) of the Deed of Indemnity ... investment made by the complainant can be
bought back by exercising the buyback option in terms of clause ii of
the Deed of Indemnity
prove
genuineness of payments of Rs.1,75 ,00,000/- for
buyback of flats which was not claimed as expenditure
during the year but remained ... during which
revenue was booked from sale o f flats purchased under
buyback scheme."
3. In ITA No. 2468/Del/2022 , following grounds have
Parties, vide letter
dated 25.09.2006(Annexure C-3) with confirmation of the Buyback Option. The aforesaid space was allotted to the
complainant. A Developer Buyer ... Annexure C-11),
requested the complainant, to exercise
the option of Buyback, in one month prior to 18.1.2010, under intimation or
lease out the allotted
