Proper consideration of Raising Funds though FCCB into Convertible Bond of Ordinary Equity Shares: ITAT dismisses Appeal [Read Order]

Funds - FCCB - Convertible Bond - Equity Shares - ITAT - Appeal - taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad dismissed appeal as proper consideration of raising funds though FCCB into convertible bond of ordinary equity shares. The assessee, M/s. ORG Informatics Limited is engaged in the business of trading of Computer System/ Telecom System/development of Software and GIS. The assessee filed return of income under Section 139(1)…

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