https://www.taxtmi.com/caselaws?id=8979 Whether bonus shares are held from the date of their allotment or from the date of acquisition of the original shares was the dominant issue. HC reasoned that bonus shares constitute distinct assets allotted by the company and are not mere extensions of the original shareholding; the holding period for tax purposes thus commences on the date of allotment/issue of the bonus shares. Consequently, for classification as short-term or long-term capital assets the period of holding is computed from the allotment date, and tax incidence follows accordingly. en-us Mon, 17 Jul 1972 00:00:00 +0530 Tue, 20 Jan 2026 11:05:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8979 Whether bonus shares are held from the date of their allotment or from the date of acquisition of the original shares was the dominant issue. HC reasoned that bonus shares constitute distinct assets allotted by the company and are not mere extensions of the original shareholding; the holding period for tax purposes thus commences on the date of allotment/issue of the bonus shares. Consequently, for classification as short-term or long-term capital assets the period of holding is computed from the allotment date, and tax incidence follows accordingly. Case-Laws Income Tax Mon, 17 Jul 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8979