https://www.taxtmi.com/caselaws?id=793491 Broken-period interest received on a cum-interest transfer of non-convertible debentures retains its character as interest income, even where paid by the purchaser rather than the issuer. Interest accrued up to the transfer date had already been accounted for, and the additional amount represented interest for the intervening five-day period. The debt character of non-convertible debentures supports assessment of that receipt under Income from Other Sources rather than as short-term capital gain. Consequently, the receipt does not qualify for the capital-gains exemption under Article 13(5) of the India-Singapore DTAA. en-us Mon, 15 Jun 2026 00:00:00 +0530 Wed, 17 Jun 2026 07:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793491 Broken-period interest received on a cum-interest transfer of non-convertible debentures retains its character as interest income, even where paid by the purchaser rather than the issuer. Interest accrued up to the transfer date had already been accounted for, and the additional amount represented interest for the intervening five-day period. The debt character of non-convertible debentures supports assessment of that receipt under Income from Other Sources rather than as short-term capital gain. Consequently, the receipt does not qualify for the capital-gains exemption under Article 13(5) of the India-Singapore DTAA. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793491