https://www.taxtmi.com/caselaws?id=71816 The Tribunal determined that the transaction primarily involved the transfer of shares, resulting in both long-term and short-term capital gains. The non-disclosure of the date of issue of bonus shares justified the reassessment under Section 147(a). The majority opinion upheld the reassessments as valid, citing the failure to fully disclose material facts. Consequently, the appeals were dismissed, affirming the decision that the transaction constituted a transfer of shares with associated capital gains. en-us Sat, 31 Jul 1993 00:00:00 +0530 Mon, 24 Jun 2013 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71816 The Tribunal determined that the transaction primarily involved the transfer of shares, resulting in both long-term and short-term capital gains. The non-disclosure of the date of issue of bonus shares justified the reassessment under Section 147(a). The majority opinion upheld the reassessments as valid, citing the failure to fully disclose material facts. Consequently, the appeals were dismissed, affirming the decision that the transaction constituted a transfer of shares with associated capital gains. Case-Laws Income Tax Sat, 31 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71816