https://www.taxtmi.com/caselaws?id=14384 The case involved the computation of capital gains on the sale of shares, specifically addressing the treatment of bonus shares received by the assessee. The Tribunal determined that bonus shares should be valued by spreading the cost of acquisition over the original shares and bonus shares. Precedent from the Supreme Court clarified that bonus shares related to shares held before January 1, 1954, should not reduce the fair market value of the original shares. The court emphasized the importance of valuing bonus shares and directed the computation of capital gains based on the correct valuation method, resulting in a revised tax liability for the assessee. en-us Wed, 22 Nov 2000 00:00:00 +0530 Wed, 15 Jul 2009 15:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14384 The case involved the computation of capital gains on the sale of shares, specifically addressing the treatment of bonus shares received by the assessee. The Tribunal determined that bonus shares should be valued by spreading the cost of acquisition over the original shares and bonus shares. Precedent from the Supreme Court clarified that bonus shares related to shares held before January 1, 1954, should not reduce the fair market value of the original shares. The court emphasized the importance of valuing bonus shares and directed the computation of capital gains based on the correct valuation method, resulting in a revised tax liability for the assessee. Case-Laws Income Tax Wed, 22 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14384