https://www.taxtmi.com/caselaws?id=58899 The case involved a dispute over the computation of short-term capital gain on the sale of rights received from a corporation. The Appellate Tribunal rejected both methods proposed by the Revenue authorities and the assessee, concluding that the correct approach was to determine the diminution in the value of shares resulting from the issue of bonus shares and right shares separately. After analyzing various factors, the Tribunal directed the Income Tax Officer to adopt a specific value for the rights, allowing the appeal in part and indicating a favorable decision for the assessee. en-us Thu, 28 Feb 1991 00:00:00 +0530 Wed, 22 Dec 2010 16:53:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58899 The case involved a dispute over the computation of short-term capital gain on the sale of rights received from a corporation. The Appellate Tribunal rejected both methods proposed by the Revenue authorities and the assessee, concluding that the correct approach was to determine the diminution in the value of shares resulting from the issue of bonus shares and right shares separately. After analyzing various factors, the Tribunal directed the Income Tax Officer to adopt a specific value for the rights, allowing the appeal in part and indicating a favorable decision for the assessee. Case-Laws Income Tax Thu, 28 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58899