https://www.taxtmi.com/caselaws?id=19171 The High Court held that the gains from the sale of bonus equity shares should be included in the assessee's income as capital gains for income tax purposes. The court emphasized that the cost of bonus shares cannot be considered nil and must be valued by spreading the cost of old shares over the old and bonus shares, citing relevant legal precedents. The decision was in favor of the Revenue, with no order as to costs in the case. en-us Mon, 12 Dec 1994 00:00:00 +0530 Wed, 04 Nov 2009 13:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19171 The High Court held that the gains from the sale of bonus equity shares should be included in the assessee's income as capital gains for income tax purposes. The court emphasized that the cost of bonus shares cannot be considered nil and must be valued by spreading the cost of old shares over the old and bonus shares, citing relevant legal precedents. The decision was in favor of the Revenue, with no order as to costs in the case. Case-Laws Income Tax Mon, 12 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19171