Court Rules Foreign Loan to Indian Subsidiary is a Capital Asset u/s 2(14) of Income Tax Act.

Court Rules Foreign Loan to Indian Subsidiary is a Capital Asset u/s 2(14) of Income Tax Act. https://www.taxtmi.com/highlights?id=49115 Capital asset u/s 2(14) - whether loan given to its subsidiary in India, by the foreign company constitute capital asset - Held Yes - Revenue has not been able to point out any reasons to understand meaning of the word ‘property’ as given in the Section 2(14) of the Act differently from the meaning given to it u/s 2(e) of the Wealth Tax Act, 1957. - HC en-us Thu, 05 Sep 2019 07:32:34 +0530 Thu, 05 Sep 2019 07:32:34 +0530 TaxTMI RSS Generator Court Rules Foreign Loan to Indian Subsidiary is a Capital Asset u/s 2(14) of Income Tax Act. https://www.taxtmi.com/highlights?id=49115 Capital asset u/s 2(14) - whether loan given to its subsidiary in India, by the foreign company constitute capital asset - Held Yes - Revenue has not been able to point out any reasons to understand meaning of the word ‘property’ as given in the Section 2(14) of the Act differently from the meaning given to it u/s 2(e) of the Wealth Tax Act, 1957. - HC Highlights Income Tax Thu, 05 Sep 2019 07:32:34 +0530 https://www.taxtmi.com/highlights?id=49115