https://www.taxtmi.com/circulars?id=11073 The Department advises that existing private, closely held and other unlisted companies should not issue bonus shares out of reserves created by revaluation of fixed assets; bonus issues must be made from free reserves arising from genuine profits or from share premium received in cash, and reserves arising from revaluation of fixed assets cannot be capitalised for bonus issues. en-us Tue, 06 Sep 1994 00:00:00 +0530 Mon, 20 Jun 2011 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11073 The Department advises that existing private, closely held and other unlisted companies should not issue bonus shares out of reserves created by revaluation of fixed assets; bonus issues must be made from free reserves arising from genuine profits or from share premium received in cash, and reserves arising from revaluation of fixed assets cannot be capitalised for bonus issues. Circulars Companies Law Tue, 06 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11073