https://www.taxtmi.com/caselaws?id=64683 The Appellate Tribunal ruled in favor of the assessee, determining that no capital gain was assessable on the transaction involving the purchase of debentures and the right to receive equity shares. The Tribunal held that the transaction should be considered as a whole, with the retention of shares preventing the assessment of capital gains. The decision was based on a comprehensive analysis of the relevant provisions of the Income Tax Act and legal precedents cited during the appeal. en-us Fri, 31 Jan 1986 00:00:00 +0530 Wed, 09 Feb 2011 12:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64683 The Appellate Tribunal ruled in favor of the assessee, determining that no capital gain was assessable on the transaction involving the purchase of debentures and the right to receive equity shares. The Tribunal held that the transaction should be considered as a whole, with the retention of shares preventing the assessment of capital gains. The decision was based on a comprehensive analysis of the relevant provisions of the Income Tax Act and legal precedents cited during the appeal. Case-Laws Income Tax Fri, 31 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64683