[aaykarbhavan] Sums forfeited on non-payment of instalments of share warrants would be treated as capital receipts, says ITAT

sums forfeited on non-payment of instalments of share warrants would be treated as capital receipts, says ITAT

September 30, 2014[2014] 49 taxmann.com 138 (Delhi - Trib.)/[2014] 159 TTJ 146 (Delhi - Trib.)

IT: Where assessee issued optionally convertible warrants during relevant year, amount forfeited by it on account of subsequent non-payment of instalments towards warrants issue had to be treated as capital receipt not liable to tax

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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