https://www.taxtmi.com/caselaws?id=399547 The HC upheld the Tribunal's decision, affirming that the cost of acquisition for equity shares converted from foreign currency convertible bonds should be determined per Clause 7(4) of the relevant Scheme. The period of holding was deemed from conversion to sale, classifying gains as short-term capital gains. The substantial question of law was resolved against the revenue and in favor of the assessee, leading to the dismissal of the revenue's appeal. en-us Tue, 06 Oct 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399547 The HC upheld the Tribunal's decision, affirming that the cost of acquisition for equity shares converted from foreign currency convertible bonds should be determined per Clause 7(4) of the relevant Scheme. The period of holding was deemed from conversion to sale, classifying gains as short-term capital gains. The substantial question of law was resolved against the revenue and in favor of the assessee, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Tue, 06 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399547