https://www.taxtmi.com/caselaws?id=39938 The Supreme Court ruled in favor of the Commissioner of Income-tax, Central, Calcutta, against the companies involved in the valuation of bonus shares for the assessment years ending March 31, 1950, and 1951. The Court endorsed spreading the cost of original shares over all shares, old and new, to calculate profit or loss on shares involving bonus shares. The High Court's decision was overturned, and the cases were remanded to the Income-tax Appellate Tribunal for resolution using the approved valuation method. The appeals were allowed with costs, resolving the dispute over bonus share valuation. en-us Thu, 03 Apr 1969 00:00:00 +0530 Wed, 04 Mar 2015 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39938 The Supreme Court ruled in favor of the Commissioner of Income-tax, Central, Calcutta, against the companies involved in the valuation of bonus shares for the assessment years ending March 31, 1950, and 1951. The Court endorsed spreading the cost of original shares over all shares, old and new, to calculate profit or loss on shares involving bonus shares. The High Court's decision was overturned, and the cases were remanded to the Income-tax Appellate Tribunal for resolution using the approved valuation method. The appeals were allowed with costs, resolving the dispute over bonus share valuation. Case-Laws Income Tax Thu, 03 Apr 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39938