https://www.taxtmi.com/caselaws?id=58875 The Tribunal allowed the appeal, directing authorities to adjust the cost of acquisition of bonus shares acquired post 1-1-1964. It held that the market value as on 1-1-1964 should be considered for all computations related to capital gains, spreading the cost over both original and bonus shares if they rank pari passu. This interpretation of section 55(2) aligned with previous Supreme Court decisions, resulting in a favorable outcome for the assessee in determining the average cost of acquisition of bonus shares. en-us Wed, 20 Jan 1988 00:00:00 +0530 Wed, 22 Dec 2010 15:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58875 The Tribunal allowed the appeal, directing authorities to adjust the cost of acquisition of bonus shares acquired post 1-1-1964. It held that the market value as on 1-1-1964 should be considered for all computations related to capital gains, spreading the cost over both original and bonus shares if they rank pari passu. This interpretation of section 55(2) aligned with previous Supreme Court decisions, resulting in a favorable outcome for the assessee in determining the average cost of acquisition of bonus shares. Case-Laws Income Tax Wed, 20 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58875