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1994 (9) TMI 19 - HC - Income Tax

The High Court of Madras upheld the Tribunal's method of valuing shares for calculating taxable capital gains in the case of an assessee holding shares in a company acquired by the Government. The court ruled that the method of not separately valuing bonus shares when the entire block of shares is sold is correct in law. The court answered the question against the assessee and awarded no costs.

 

 

 

 

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