{"id":5664,"date":"2026-04-26T12:25:25","date_gmt":"2026-04-26T12:25:25","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=5664"},"modified":"2026-04-26T12:25:26","modified_gmt":"2026-04-26T12:25:26","slug":"income-tax-hc-delhi-judgement-dated-07-04-2026-buyback-not-taxable-as-property-acquisition-due-to-share-extinguishment","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/04\/26\/income-tax-hc-delhi-judgement-dated-07-04-2026-buyback-not-taxable-as-property-acquisition-due-to-share-extinguishment\/","title":{"rendered":"Income Tax, HC Delhi Judgement Dated 07\/04\/2026 &#8211; Buyback not taxable as Property Acquisition due to Share Extinguishment"},"content":{"rendered":"\n<p>\u00a0<em>Case of PCIT vs Globe Capital markets Ltd, HC Delhi Judgement Dated 7<sup>th<\/sup>\u00a0April 2026.<\/em>\u00a0HC held that buy-back of shares results in reduction of share capital and extinguishment of the shares. It considered that once the shares are bought back, they cease to exist and are not retained as assets. Therefore, the concept of \u2018acquisition of property\u2019 does not apply in such cases. It held that treating such transactions as generating deemed income is legally untenable.\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/drive.google.com\/file\/d\/1I2WOdSNUQTX4qu6QO8ONdgm8Aw7XVSA7\/view?usp=sharing\"><em>(Link: HC Delhi Judgement Dated 07\/04\/2026)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Case of PCIT vs Globe Capital markets Ltd, HC Delhi Judgement Dated 7th\u00a0April 2026.\u00a0HC held that buy-back of shares results [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[8,15],"tags":[],"class_list":["post-5664","post","type-post","status-publish","format-standard","hentry","category-income-tax","category-judiciary"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Income Tax, HC Delhi Judgement Dated 07\/04\/2026 - Buyback not taxable as Property Acquisition due to Share Extinguishment - Bhatia Bhola &amp; 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