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2014 (9) TMI 422 - SCH - Income TaxSupreme court dismissed the SLP filed by Revenue against the order of High Court [2012 (5) TMI 257 - BOMBAY HIGH COURT] where HC held that there was an error in making an addition u/s 41(1) as there was no remission or cessation of liability during AY 2002-03 - No records have been brought in by the revenue for redemption of shares being sham transaction - also, redemption of preference shares comes u/s 2(47) - non-cumulative redeemable preference shares were not in the nature of bonds or debentures for the purpose of benefit of indexation.
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