Assessee in respect of renunciation of
rights to subscribe to partly convertible debentures (hereafter 'PCD') of
M/s Jindal Iron & Steel ... convertible
debentures of JISCO. Each debenture issued by JISCO was for
a sum of Rs. 110/- and an investment in debentures would have
involved approximate
entire gains on the sale of equity shares and Compulsorily Convertible
Debentures (CCDs) held by the petitioner are not exempt from income tax
in India ... Debentures. A debenture indisputably creates and recognizes the existence
of a debt and till it is discharged, either by payment or by conversion, the
debenture
transfer of shares and sale of rights entitlement of Partly
Convertible Debentures (PCDs) is income from capital gains
and not income from business?
2. Whether ... incurred loss on sale of its
entitlement to acquire partly convertible debentures and the
assessee is entitled to set off the alleged loss from
transfer of shares
and sale of rights entitlement of partly convertible
debentures (PCD'S) is income from capital gains and not
income from business ... incurred loss on sale of its entitlement to acquire partly
convertible debentures and the assessee is entitled to set off
the alleged loss from
Class B equity shares
and 8,751,000 Series A fully convertible debentures of respondent no.4
company for funding of two of its residential ... amount and ₹12,66,84,511/- as net interest on fully convertible
debentures for the period 01.04.2015 to 31.07.2016. The said amounts were
Scheme,
investments can be made in shares, mandatorily and fully
convertible debentures and mandatorily and fully convertible
Co. Pet. 572/2013 Page ... shares, "preference shares" means fully and mandatorily
convertible preference shares and "convertible debentures"
means fully and mandatorily convertible debentures
invested a sum of ₹1,045.00 Crores in non-convertible debentures of Vatika
Limited issued for ₹1,000.00 Crores (issue value). The said non-convertible ... making any addition on account of income
from interest on non-convertible debentures of Vatika Limited. Thus, in
fact, the PCIT passed an order under
transfer of shares and sale of rights entitlement of Partly
Convertible Debentures (PCDs) is income from capital gains
and not income from business?
2. Whether ... incurred loss on sale of its
entitlement to acquire partly convertible debentures and the
assessee is entitled to set off the alleged loss from
transfer of
shares and sale of rights entitlement of partly convertible
of partly convertible Debentures (PCDs) is income from
capital gains and not income from ... incurred loss on sale of its entitlement to
acquire partly convertible debentures & the assessee is
entitled to set off the alleged loss from
transfer of shares
and sale of rights entitlement of partly convertible
Debentures (PCD's) is income from capital gains and not
income from business ... incurred loss on sale of its entitlement to acquire partly
convertible debentures & the assessee is entitled to set off
the alleged loss from
