https://www.taxtmi.com/caselaws?id=65308 The Tribunal held that the sale proceeds of bonus shares are subject to capital gains tax, determining the cost of bonus shares by averaging the cost of original shares. The Supreme Court decision in B.C. Srinivasa Setty was deemed inapplicable to bonus shares, and the amendment to Section 55(2) was found to be substantive and not retrospective. The revenue's appeal was allowed, overturning the Commissioner (Appeals)'s decision. en-us Thu, 17 Jul 2003 00:00:00 +0530 Mon, 14 Feb 2011 18:04:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65308 The Tribunal held that the sale proceeds of bonus shares are subject to capital gains tax, determining the cost of bonus shares by averaging the cost of original shares. The Supreme Court decision in B.C. Srinivasa Setty was deemed inapplicable to bonus shares, and the amendment to Section 55(2) was found to be substantive and not retrospective. The revenue's appeal was allowed, overturning the Commissioner (Appeals)'s decision. Case-Laws Income Tax Thu, 17 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65308