The High Court held that the loan given by the assessee to its subsidiary in India constituted a capital asset within the meaning of section 2(14) of the Income-tax Act, 1961 and the consideration received when it was assigned  was a short-term capital loss. On a petition for special leave to appeal to the Supreme Court dismissing the petition the Court held that   the Tribunal had given strong reasons for holding that the transaction would come within the meaning of section 2(14) of the Act. Order of  High Court affirmed.  (AY. 2002-03)