https://www.taxtmi.com/caselaws?id=25014 The Andhra Pradesh High Court ruled in a case concerning the calculation of assessable capital gains for the assessment years 1977-78 and 1978-79. The court held that the cost of right shares should not be included in determining capital gains. It differentiated between bonus shares and right shares, noting that the principle of spreading cost over bonus shares did not apply to right shares. As the shares sold were not right shares but derived from originally subscribed or bonus shares, the Revenue's computation of the shares' actual cost was upheld. The judgment favored the Revenue, affirming the correctness of the assessments conducted. en-us Thu, 26 Nov 1987 00:00:00 +0530 Sat, 23 Jan 2010 17:43:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25014 The Andhra Pradesh High Court ruled in a case concerning the calculation of assessable capital gains for the assessment years 1977-78 and 1978-79. The court held that the cost of right shares should not be included in determining capital gains. It differentiated between bonus shares and right shares, noting that the principle of spreading cost over bonus shares did not apply to right shares. As the shares sold were not right shares but derived from originally subscribed or bonus shares, the Revenue's computation of the shares' actual cost was upheld. The judgment favored the Revenue, affirming the correctness of the assessments conducted. Case-Laws Income Tax Thu, 26 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25014