https://www.taxtmi.com/caselaws?id=38601 A voluntary winding up is deemed to commence when the resolution for winding up is passed, and where the liquidation scheme provides for distribution of assets in specie from that date, the shareholders become entitled to the shares then. Later physical delivery or transfer in the register does not postpone ownership for valuation purposes, because those steps are only administrative. The relevant date for valuing the shares in computing capital gains was therefore the date of the winding-up resolution. en-us Fri, 12 Nov 1976 00:00:00 +0530 Wed, 07 Apr 2010 15:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38601 A voluntary winding up is deemed to commence when the resolution for winding up is passed, and where the liquidation scheme provides for distribution of assets in specie from that date, the shareholders become entitled to the shares then. Later physical delivery or transfer in the register does not postpone ownership for valuation purposes, because those steps are only administrative. The relevant date for valuing the shares in computing capital gains was therefore the date of the winding-up resolution. Case-Laws Income Tax Fri, 12 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38601