https://www.taxtmi.com/caselaws?id=377662 The court quashed the order dated 29th March 2018, ruling in favor of the petitioner regarding the determination of the cost of acquisition and period of holding for shares obtained through the conversion of FCCBs. The court held that the cost of acquisition should be based on the FCCB Scheme's provisions, specifically clause 7(4), rather than the amended section 49(2A) of the Income-tax Act. The court directed the respondents to withdraw and cancel the order, affirming that the FCCB Scheme governs the transactions in question. en-us Wed, 27 Mar 2019 00:00:00 +0530 Sat, 05 Aug 2023 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377662 The court quashed the order dated 29th March 2018, ruling in favor of the petitioner regarding the determination of the cost of acquisition and period of holding for shares obtained through the conversion of FCCBs. The court held that the cost of acquisition should be based on the FCCB Scheme's provisions, specifically clause 7(4), rather than the amended section 49(2A) of the Income-tax Act. The court directed the respondents to withdraw and cancel the order, affirming that the FCCB Scheme governs the transactions in question. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377662