https://www.taxtmi.com/caselaws?id=250732 The High Court upheld the Tribunal's decision, dismissing the appeal regarding the tax treatment of non-convertible debentures and detachable warrants. The court ruled that the application money paid for the debentures did not constitute a short-term capital loss as claimed by the assessee, as it was intended for acquiring the warrants. The detachable warrants were deemed taxable income as they were received against the application money. Legal precedents cited were found inapplicable due to differing factual circumstances, leading to the dismissal of the appeal. en-us Mon, 03 Feb 2014 00:00:00 +0530 Sat, 23 Aug 2014 08:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250732 The High Court upheld the Tribunal's decision, dismissing the appeal regarding the tax treatment of non-convertible debentures and detachable warrants. The court ruled that the application money paid for the debentures did not constitute a short-term capital loss as claimed by the assessee, as it was intended for acquiring the warrants. The detachable warrants were deemed taxable income as they were received against the application money. Legal precedents cited were found inapplicable due to differing factual circumstances, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 03 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250732