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1994 (12) TMI 30 - BOMBAY HIGH COURTExtract: ....... out of the sale of bonus equity shares held by the assessee were liable to be included in the income of the assessee as capital gains for the purpose of income-tax. In the premises, we answer the question referred to us in the affirmative and in favour of the Revenue. In the facts and circumstances of the case, there shall be no order as to costs.
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