https://www.taxtmi.com/caselaws?id=5535 The Supreme Court reviewed a case involving the computation of capital gains on the sale of shares, particularly bonus shares, under the Income-tax Act, 1961. The court set aside the High Court's orders and directed the Income-tax Appellate Tribunal to refer the legal questions raised by the Revenue for the High Court's consideration. The decision emphasized the necessity of thorough discussions in tribunal findings and the importance of providing detailed reasons for rejecting applications. The appeals were allowed, with no order regarding costs, focusing on ensuring a comprehensive resolution of the legal issues at hand. en-us Thu, 26 Sep 1996 00:00:00 +0530 Mon, 20 Feb 2012 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5535 The Supreme Court reviewed a case involving the computation of capital gains on the sale of shares, particularly bonus shares, under the Income-tax Act, 1961. The court set aside the High Court's orders and directed the Income-tax Appellate Tribunal to refer the legal questions raised by the Revenue for the High Court's consideration. The decision emphasized the necessity of thorough discussions in tribunal findings and the importance of providing detailed reasons for rejecting applications. The appeals were allowed, with no order regarding costs, focusing on ensuring a comprehensive resolution of the legal issues at hand. Case-Laws Income Tax Thu, 26 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5535