High Court-approved capital reduction cannot be recharacterised as a buy-back under Section 115QA.
High Court-approved capital reduction cannot be recharacterised as a buy-back under Section 115QA. Issues Whether tax authorities can recharacterise a High Court-approved capital reduction under Sections 100 to 104 of the Companies Act, 1956 as a share buy-back under Section 115QA of the Income-tax Act, 1961. Whether interest paid on capital borrowed and utilized for… Read More »