Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Reduction in Subsidiary’s Share Capital Constitutes ‘Transfer’ u/s 2(47) of Income Tax Act: Supreme Court
Income TaxOther Legal Matters
The Supreme Court ruled that a reduction in a subsidiary's share capital constitutes a transfer under the Income Tax Act. This clarifies the tax implications of such transactions. It provides guidance on how these transactions will be treated for tax purposes.
