Shares forfeiture – tax treatment for fy 2015-16

I have read the budged for FY 2015-16, in this budget Direct Tax Code has not been implemented for FY 2015-16 and I could not find any provision regarding share forfeiture –tax treatment.

So as far as I deduced that if a company forfeited its share during FY 2015-16, it will not be taxed in the hands of company as it was not taxable for FY 2014-15.

I want to get it confirmed from learned members of this forum. Even if I am right, please comment. If I am wrong, please correct.

Waiting for your replies,

Thanks in advance,

With Regards,