https://www.taxtmi.com/caselaws?id=283595 The High Court upheld the Tribunal's decision regarding the valuation of shares for calculating capital gains under the IT Act, 1961. It found that the cost of acquisition should be determined based on commercial principles and the impact of bonus shares on the value of original shares. The Court ruled that the value of bonus shares did not need separate ascertainment when the entire block of shares, including bonus shares, was sold. The High Court answered the references in the affirmative, ruling against the assessees and finding no infirmity in the Tribunal's order. en-us Tue, 12 Nov 1996 00:00:00 +0530 Tue, 01 Oct 2019 16:55:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283595 The High Court upheld the Tribunal's decision regarding the valuation of shares for calculating capital gains under the IT Act, 1961. It found that the cost of acquisition should be determined based on commercial principles and the impact of bonus shares on the value of original shares. The Court ruled that the value of bonus shares did not need separate ascertainment when the entire block of shares, including bonus shares, was sold. The High Court answered the references in the affirmative, ruling against the assessees and finding no infirmity in the Tribunal's order. Case-Laws Income Tax Tue, 12 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283595