For taxation purposes, capital gain or loss arises when there is a ‘transfer’ of capital asset. ‘Transfer’ includes sale/ exchange/ relinquishment of assets or extinguishment of rights for a price.
Rupee has submitted various options for resolution of the bank, which include an exploratory proposal for merger. The RBI has given an undertaking in the Bombay High Court to take an appropriate decision before December 31 with respect to the resolution of the bank, Sudhir Pandit, administrator of the bank, ...