Case Law Details
Case Name : ACITVs Feroke Boards Ltd. (ITAT Cochin)
Related Assessment Year : 2011-2012
Courts :
All ITAT ITAT Cochin
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ACIT Vs Feroke Boards Ltd. (ITAT Cochin)
The first issue to be decided is whether the assets transferred by the assessee to M/s.Masonite Holdings Private Limited is a “financial asset” coming within the Explanation 1(i)(e) to section 2(42A) of the I.T.Act. The term “financial asset” has been described in Explanation 1(i)(d) to section 2(42A) of the I.T.Act to be a capital asset, being share or any other security. As per Explanation (2) to section 2(42A) of the I.T.Act, the expression “sec
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