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1973 (7) TMI 15 - BOMBAY HIGH COURTCapital Gains - assessee is a Hindu undivided family deriving income from interest on securities, dividends, property and dealing in shares, both ready and forward - Shares in the new company received by the assessee on the basis of his share holdings in the old company. Whether it amounts to exchange or relinquishment for the purpose of capital gains - as a result of allotment of 45 shares of New Shorrock company under the scheme of amalgamation to the assessee by reason of his holding of 90 shares of Shorrock company, neither a transaction of exchange nor relinquishment has taken place
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