https://www.taxtmi.com/caselaws?id=5536 The Supreme Court affirmed the High Court's decision that the cost of acquisition of original shares must be averaged over the original and bonus shares when bonus shares are issued, impacting the computation of capital gains tax. The court held that the issuance of bonus shares alters the original cost of acquisition, irrespective of whether the shares are held by an investor or a dealer. The court distinguished a previous case involving shares acquired before 1954 and upheld the High Court's judgment in favor of the Revenue, dismissing the appeals. en-us Thu, 26 Sep 1996 00:00:00 +0530 Mon, 20 Feb 2012 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5536 The Supreme Court affirmed the High Court's decision that the cost of acquisition of original shares must be averaged over the original and bonus shares when bonus shares are issued, impacting the computation of capital gains tax. The court held that the issuance of bonus shares alters the original cost of acquisition, irrespective of whether the shares are held by an investor or a dealer. The court distinguished a previous case involving shares acquired before 1954 and upheld the High Court's judgment in favor of the Revenue, dismissing the appeals. Case-Laws Income Tax Thu, 26 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5536