https://www.taxtmi.com/caselaws?id=9414 The Court upheld the Assessing Officer's decision, treating the loss as a long-term capital loss in the case involving renounced rights shares. It emphasized the relevance of the period for which the old shares were held in determining the nature of the right to receive rights shares. The judgment differentiated this scenario from cases involving the sale of actual rights shares and highlighted the significance of the date of acquisition of the right in question. The Court dismissed the appeals, finding no merit and did not award costs to the appellants. en-us Thu, 11 Aug 2005 00:00:00 +0530 Mon, 22 Jun 2009 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9414 The Court upheld the Assessing Officer's decision, treating the loss as a long-term capital loss in the case involving renounced rights shares. It emphasized the relevance of the period for which the old shares were held in determining the nature of the right to receive rights shares. The judgment differentiated this scenario from cases involving the sale of actual rights shares and highlighted the significance of the date of acquisition of the right in question. The Court dismissed the appeals, finding no merit and did not award costs to the appellants. Case-Laws Income Tax Thu, 11 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9414