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RBI. SEBI. Downloads. Nov. 21. 2012. Loss on sale of partly convertible debentures is short-term capital loss.
Added In Income Tax Case Laws.This issue in fact fell for decision before this Court in the case of CIT v. Karam Chand Thapar and Bros. Ltd. [IT Appeal No. 130 of 1998, dated 17-12-1998] wherein this Court by its judgment and order has upheld the decision of the Tribunal that the claim of loss of the assessee in the matter of sale of Part B of the PCD in the self-same rights issue is permissible as short-term capital loss.
Read the Full Article. Nov. 21. 2012. Asessee can claim Deduction of Interest on Housing Loan Both under sec. 24(b) and sec. 48.
Added In Income Tax Case Laws.Deduction under section 24(b) and computation of capital gains under section 48 of the Act are altogether covered by
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