COMMISSIONER OF INCOME-TAX versus TUSHAR COMMERCIAL CO. LTD.
Capital Assumes an investment company, which is an equity holding company, in the proportion of a debenture for an equity share to its existing shareholders issuing a rights-based debenture to subscribe to certain debentures. And in some other debentures, the entitlement is to move. Received a certain amount The right to subscribe to debentures is a capital asset, including the acquisition of shares, but is then less than the cost of the shares when the original share price is received by the assessee. More than the amount debentures receive to transfer the right to purchase. Not taxable because the Income Tax Act, 1961, Sections 45 and 256 (2) are capital gains.
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