Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Receipt of bonus share - investments or stock in trade - original shares were part of stock in trade - bonus shares given by company in proportion to the holding of equity capital by shareholders would, in the absence of express provision to be contrary be treated as capital and not income - hence it form part of investments
Receipt of bonus share - investments or stock in trade - original shares were part of stock in trade - bonus shares given by company in proportion to the holding of equity capital by shareholders would, in the absence of express provision to be contrary be treated as capital and not income - hence it form part of investments
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
