https://www.taxtmi.com/caselaws?id=3825 The AAR ruled in favor of considering the fair market value prevailing on April 1, 1981, as the cost of acquisition for bonus shares acquired before that date. Additionally, the AAR clarified the procedure for the applicant to claim a refund of excess taxes deducted by the buyer, emphasizing the need to file a return under section 139(1) for the same. The ruling provided clarity on the computation of capital gains and the subsequent process for claiming refunds, ensuring compliance with the Income Tax Act. en-us Wed, 30 Apr 2008 00:00:00 +0530 Sun, 27 Jul 2008 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3825 The AAR ruled in favor of considering the fair market value prevailing on April 1, 1981, as the cost of acquisition for bonus shares acquired before that date. Additionally, the AAR clarified the procedure for the applicant to claim a refund of excess taxes deducted by the buyer, emphasizing the need to file a return under section 139(1) for the same. The ruling provided clarity on the computation of capital gains and the subsequent process for claiming refunds, ensuring compliance with the Income Tax Act. Case-Laws Income Tax Wed, 30 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3825