ITAT Delhi rejects Rs 2.53 crore STCG on reduced property interest caused by share dilution; Lady succeeds in ITAT for this reason

The Delhi ITAT ruled in favor of a woman, stating that dilution of her shareholding in a property-owning company due to fresh share issuance does not constitute a taxable transfer. This decision quashed a Rs 2.53 crore Short-Term Capital Gains (STCG) demand, as her interest in the underlying Rs 150 crore property remained intact.