https://www.taxtmi.com/caselaws?id=58341 The Tribunal partly allowed the department's appeal, upholding the CIT (Appeals)'s decision on the cost of original shares but modifying the computation for bonus shares. The Tribunal ruled that the cost of original shares should be spread over both original and bonus shares collectively. The cross objections by the assessee were dismissed, with the Tribunal holding that proceeds from the sale of bonus shares are eligible for tax as capital gains. en-us Wed, 17 Nov 1993 00:00:00 +0530 Sat, 18 Dec 2010 15:41:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58341 The Tribunal partly allowed the department's appeal, upholding the CIT (Appeals)'s decision on the cost of original shares but modifying the computation for bonus shares. The Tribunal ruled that the cost of original shares should be spread over both original and bonus shares collectively. The cross objections by the assessee were dismissed, with the Tribunal holding that proceeds from the sale of bonus shares are eligible for tax as capital gains. Case-Laws Income Tax Wed, 17 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58341