https://www.taxtmi.com/caselaws?id=216636 The High Court ruled in favor of the appellant assessee, holding that the loss on the sale of non-convertible debentures should be treated as a short term capital loss and not part of the cost of acquisition of convertible debentures. The court emphasized the separability of the two parts of the debentures and cited previous judgments supporting the treatment of such losses as independent. The court found the tribunal's decision contrary to established law, set aside the disallowance of the claimed loss, and ruled in favor of the appellant. en-us Thu, 30 Aug 2012 00:00:00 +0530 Mon, 21 Jan 2013 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216636 The High Court ruled in favor of the appellant assessee, holding that the loss on the sale of non-convertible debentures should be treated as a short term capital loss and not part of the cost of acquisition of convertible debentures. The court emphasized the separability of the two parts of the debentures and cited previous judgments supporting the treatment of such losses as independent. The court found the tribunal's decision contrary to established law, set aside the disallowance of the claimed loss, and ruled in favor of the appellant. Case-Laws Income Tax Thu, 30 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216636