Supreme Court Upholds ITAT and HC Ruling: Loan to Indian Subsidiary by Foreign Company is a Capital Asset u/s 2(14.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Capital asset u/s 2(14) - Scope of the term Asset / property - "interest of every kind" - whether loan given to its subsidiary in India, by the foreign company constitute capital asset - ITAT and HC has given strong reasons for holding that the concerned transaction would come in the meaning of Section 2(14) of the Income Tax Act - SLP by Revenue dismissed - SC....