https://www.taxtmi.com/caselaws?id=5556 The Supreme Court upheld the decision of the High Court regarding the assessment of profit from the exchange of securities by the assessee for tax purposes. It was concluded that the exchange constituted a realization of profit, as per the valuation of the shares involved. The court dismissed the appeal, affirming the profit assessment made by the tax authorities and rejecting the assessee's claim that no profit was earned from the exchange. The application by the assessee to raise additional grounds was also dismissed by the court. en-us Tue, 21 Jan 1997 00:00:00 +0530 Wed, 22 Feb 2012 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5556 The Supreme Court upheld the decision of the High Court regarding the assessment of profit from the exchange of securities by the assessee for tax purposes. It was concluded that the exchange constituted a realization of profit, as per the valuation of the shares involved. The court dismissed the appeal, affirming the profit assessment made by the tax authorities and rejecting the assessee's claim that no profit was earned from the exchange. The application by the assessee to raise additional grounds was also dismissed by the court. Case-Laws Income Tax Tue, 21 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5556