https://www.taxtmi.com/caselaws?id=57344 The Tribunal set aside the CIT(A)'s decision and ruled in favor of the assessee, deleting the addition of Rs. 36,46,610. The Tribunal found that the shares were held as investments, and no capital gain could be taxed solely on the receipt of bonus shares without an actual transfer of the capital asset, as per section 45 of the Income-tax Act, 1961. Since there was no transfer in the relevant year, the Tribunal held that no capital gain accrued to the assessee. en-us Fri, 22 Sep 2006 00:00:00 +0530 Thu, 09 Dec 2010 16:51:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57344 The Tribunal set aside the CIT(A)'s decision and ruled in favor of the assessee, deleting the addition of Rs. 36,46,610. The Tribunal found that the shares were held as investments, and no capital gain could be taxed solely on the receipt of bonus shares without an actual transfer of the capital asset, as per section 45 of the Income-tax Act, 1961. Since there was no transfer in the relevant year, the Tribunal held that no capital gain accrued to the assessee. Case-Laws Income Tax Fri, 22 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57344