https://www.taxtmi.com/caselaws?id=379831 The High Court upheld the ITAT's decision to delete the disallowance of a short-term capital loss claimed by the Assessee. The court found that the forfeiture of the convertible warrant did not result in the destruction of the company itself, as the asset (the share in the company) was not extinguished, and the company continued to exist. Relying on previous judgments, the court dismissed the Revenue's appeal, stating that no substantial question of law arose in the case. en-us Tue, 30 Apr 2019 00:00:00 +0530 Wed, 08 May 2019 07:25:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379831 The High Court upheld the ITAT's decision to delete the disallowance of a short-term capital loss claimed by the Assessee. The court found that the forfeiture of the convertible warrant did not result in the destruction of the company itself, as the asset (the share in the company) was not extinguished, and the company continued to exist. Relying on previous judgments, the court dismissed the Revenue's appeal, stating that no substantial question of law arose in the case. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379831