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Assets
and/or moneys received by a shareholder from a liquidator are not
consideration for a transfer of shareholding. Distributed ... distribution. The transaction on which the
capital gains arise is the transaction of distribution of money and/or
assets
Bombay High Court
After the distribution of the assets, nothing remains of the
shares. To say that the assets a shareholder receives ... assets of the company among the shareholders, what each
shareholder gets is in lieu of his shareholding. That
Supreme Court of India
calculating the capital
gains to the shareholders on the distribution assets by a
company in liquidation. But for that ... levy tax
on capital gains to the shareholders on distribution of
assets by a company in liquidation.
Mr. Desai took
Supreme Court of India
company
goes into liquidation and the liquidator distributes the assets among
the shareholders (after discharging the liabilities ... After the distribution of the assets nothing remains of
the shares, To say that the assets a shareholder receives
Supreme Court of India
accordance with law
when the liquidator distributed the assets to the shareholders."
19. But, with due respect to their Lordships ... company otherwise provides
its surplus assets must be distributed to the shareholders according to
their rights and interests
Calcutta High Court
that a payment made to a shareholder upon the
distribution of the assets upon winding-up does not constitute
extinguishment ... shareholder
of the company was to a share in the distribution of the net assets in
case the company went
Gujarat High Court
calculating the capital gains to
the shareholders on the distribution of assets by a company in
liquidation. Normally when ... levy tax on capital gains to the shareholders on
distribution of assets in liquidation." The ratio of the aforesaid
decision
Income Tax Appellate Tribunal - Madras
calculating the capital gains to the
shareholders on the distribution of assets by a company in
liquidation. But for that ... levy tax on capital gains to the
shareholders on distribution of assets by a company in liquidation
Madras High Court
calculating the capital gains to the
shareholders on the distribution of assets by a company in
liquidation. But for that ... levy tax on capital gains to the shareholders
on distribution of assets by a company in liquidation."
Therefore, a reading
Gujarat High Court
section 45, where the assets of
a company are distributed to its shareholders on its liquidation, such
distribution shall ... transfer
when the assets of a company are distributed to its shareholders on its
liquidation. There is no transfer either
Madras High Court
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