TMI Blog1970 (4) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... hares received in respect of the ordinary shares held by the assessee as stock-in-trade of his business was revenue receipt - Revenue's appeal allowed - Civil Appeal No 1763 of 1967. - - - Dated:- 17 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the Indian Income-tax Act ? The High Court was of the view that the sale proceeds of the bonus shares were not income taxable under the Indian Income-tax Act. In Commissioner of Income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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