https://www.taxtmi.com/caselaws?id=28683 The court upheld the method of averaging out the cost of acquisition of original shares over both the original and bonus shares, as enunciated in previous Supreme Court decisions. Consequently, the assessee was not justified in taking the value of the shares at their original cost under section 45 of the Income-tax Act, 1961. The court ruled in favor of the Revenue, affirming the Tribunal's decision on determining the cost of acquisition. The Revenue was awarded costs, including counsel's fee of Rs. 350. en-us Fri, 23 Apr 1982 00:00:00 +0530 Wed, 24 Feb 2010 17:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28683 The court upheld the method of averaging out the cost of acquisition of original shares over both the original and bonus shares, as enunciated in previous Supreme Court decisions. Consequently, the assessee was not justified in taking the value of the shares at their original cost under section 45 of the Income-tax Act, 1961. The court ruled in favor of the Revenue, affirming the Tribunal's decision on determining the cost of acquisition. The Revenue was awarded costs, including counsel's fee of Rs. 350. Case-Laws Income Tax Fri, 23 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28683