https://www.taxtmi.com/caselaws?id=66418 The Tribunal partially allowed the appeal concerning the taxation of capital gains on the sale of right shares by a Trust. It rejected the assessee's claim of a capital loss, emphasizing the application of the averaging principle for determining the cost of shares. The Tribunal highlighted the importance of considering contributions made for bonus shares and right shares in cost calculation. It provided detailed guidance on the uniform application of the averaging principle to shares with similar dividend prospects, remitting the matter back to the ITO for reevaluation based on the principles discussed in the judgment. en-us Thu, 24 Mar 1983 00:00:00 +0530 Thu, 24 Feb 2011 15:59:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66418 The Tribunal partially allowed the appeal concerning the taxation of capital gains on the sale of right shares by a Trust. It rejected the assessee's claim of a capital loss, emphasizing the application of the averaging principle for determining the cost of shares. The Tribunal highlighted the importance of considering contributions made for bonus shares and right shares in cost calculation. It provided detailed guidance on the uniform application of the averaging principle to shares with similar dividend prospects, remitting the matter back to the ITO for reevaluation based on the principles discussed in the judgment. Case-Laws Income Tax Thu, 24 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66418