Supreme Court of India
Kartikeya V. Sarabhai v. Commissioner of Income Tax
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
4 Supreme Court benches have cited this judgment.
From the headnote
Income Tax Act, 1961-Sections 2 (47) and 45. Capital gains-Transfer of capital asset-Reduction in face value of shares-Amounts received by holder of such shares on reduction-Held, is transfer within the meaning of S. 2( 47) and taxable as capital gains. Companies Act 1956-Sections 87(2)(c) and lOo-Reduction in face value of shares-Amounts received by the holder of such shares 011 reduction is subject to capital gains. The Appellant had purchased 90 non-cumulative preference shares of a Company, each of the face value of Rs. 1,000 at a price of Rs. 420 per share. Earlier in 1965, a sum of Rs.
Authorities it was built on
Where later benches applied it
- 2025 Principal Commissioner of Income Tax-4 & Anr. v. M/s Jupiter Capital Pvt. Ltd.
- 2022 The Commissioner of Income Tax – 23 v. M/s. Mansukh Dyeing and Printing Mills
- 1998 Commissioner of Income Tax v. G. Narshimhan (died) by Heirs
- 1997 Anarkali Sarabhai, :shahibag House, Ahmedabad v. Commissioner of Income Tax, Ahmedahad
Of those, 1 relied on · 3 mentioned
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