https://www.taxtmi.com/caselaws?id=425410 The High Court dismissed the appeal challenging the ITAT Order, affirming that gains from the transfer of Compulsorily Convertible Debentures to M/s Vatika Ltd. should be treated as capital gains due to the transaction being a sham loan disguised as an investment. The decision was based on previous rulings and observations, with a clarification that the order would be subject to the final decision of the Supreme Court in a related appeal. en-us Mon, 18 Jul 2022 00:00:00 +0530 Thu, 21 Jul 2022 10:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425410 The High Court dismissed the appeal challenging the ITAT Order, affirming that gains from the transfer of Compulsorily Convertible Debentures to M/s Vatika Ltd. should be treated as capital gains due to the transaction being a sham loan disguised as an investment. The decision was based on previous rulings and observations, with a clarification that the order would be subject to the final decision of the Supreme Court in a related appeal. Case-Laws Income Tax Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425410