Case Law Details
Case Name : ACIT Vs. ABC Bearing Ltd. (ITAT Mumbai)
Appeal Number : ITA No. 6430/Mum/2007
Date of Judgement/Order : 16/07/2010
Related Assessment Year : 2004- 05
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Citation : ACIT Vs. ABC Bearing Ltd. ITA No. 6430/Mum/2007, July 16, 2010
Court : ITAT Mumbai
Background
· ABC Bearing Limited (“ABC”) claimed a capital loss on account of conversion of units of Unit Trust of India (“UTI”) US – 64 into UTI 6.75% Tax Free Bonds.
· Assessing Officer (“AO”) was of the view that conversion of units into bonds did not amount to transfer, hence there was no question of any capital gain or loss arising out of such conversion, and accordingly, the capital loss was disallowed.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.