https://www.taxtmi.com/caselaws?id=6606 The ruling confirmed that the applicant, a non-resident company, is entitled to the benefit of the first proviso to section 112(1) for both original and bonus shares. The tax payable on long-term capital gains from the sale of these shares shall not exceed 10% of the capital gains. It was clarified that the cost of acquisition for bonus shares should be considered as nil, and the gains are subject to tax at the concessional rate of 10%. en-us Mon, 01 Oct 2007 00:00:00 +0530 Thu, 15 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6606 The ruling confirmed that the applicant, a non-resident company, is entitled to the benefit of the first proviso to section 112(1) for both original and bonus shares. The tax payable on long-term capital gains from the sale of these shares shall not exceed 10% of the capital gains. It was clarified that the cost of acquisition for bonus shares should be considered as nil, and the gains are subject to tax at the concessional rate of 10%. Case-Laws Income Tax Mon, 01 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6606