https://www.taxtmi.com/caselaws?id=5068 For section 23A(1), bonus shares should not be valued at face value; the proper method is to spread the original cost of the holding across the original and bonus shares where they rank pari passu, with suitable adjustment if necessary. The text notes that this valuation principle governs the computation of the holding for determining applicability of the provision, and that any contrary face value approach is inconsistent with the earlier rule on bonus share valuation. en-us Tue, 18 Jul 1967 00:00:00 +0530 Wed, 19 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5068 For section 23A(1), bonus shares should not be valued at face value; the proper method is to spread the original cost of the holding across the original and bonus shares where they rank pari passu, with suitable adjustment if necessary. The text notes that this valuation principle governs the computation of the holding for determining applicability of the provision, and that any contrary face value approach is inconsistent with the earlier rule on bonus share valuation. Case-Laws Income Tax Tue, 18 Jul 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5068