https://www.taxtmi.com/caselaws?id=59430 The Tribunal dismissed the Departmental appeal, upholding the CIT(A)'s decision regarding the treatment of shares received by the assessee as part of a reconstruction scheme. The shares were deemed not to result in any income until sold, with their value considered nil for profit computation. The Tribunal ruled that the allotment of shares, received free of cost to compensate for share value decline, did not generate any gain or perquisite for the assessee. Case laws were cited to support the capital treatment of bonus shares, rejecting the argument that the transaction constituted income under the IT Act. en-us Thu, 08 Sep 2005 00:00:00 +0530 Wed, 29 Dec 2010 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59430 The Tribunal dismissed the Departmental appeal, upholding the CIT(A)'s decision regarding the treatment of shares received by the assessee as part of a reconstruction scheme. The shares were deemed not to result in any income until sold, with their value considered nil for profit computation. The Tribunal ruled that the allotment of shares, received free of cost to compensate for share value decline, did not generate any gain or perquisite for the assessee. Case laws were cited to support the capital treatment of bonus shares, rejecting the argument that the transaction constituted income under the IT Act. Case-Laws Income Tax Thu, 08 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59430