TMI Blog2023 (8) TMI 298X X X X Extracts X X X X X X X X Extracts X X X X ..... as introduced through an amendment from the Finance Act, 2008 with effect from 01.10.2008 - determinative time for valuation - whether date of acquisition of the bonds by the assessee was the determinative time for its valuation and not the date of acquisition of the underlying shares? - HELD THAT:- Having considered the submission as well as the judgment of the Punjab and Haryana High Court in S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inction, this Court is of the opinion that there is no infirmity with the reasoning of the Bombay High Court [ 2019 (4) TMI 106 - BOMBAY HIGH COURT] . - HON'BLE MR. JUSTICE S. RAVINDRA BHAT And HON'BLE MR. JUSTICE ARAVIND KUMAR For the Petitioner : Mr. K M Natraj, A.S.G. Mr. Raj Bahadur Yadav, AOR Mr. Shashank Bajpai, Adv. Mr. Nalin Kohli, Adv. Mr. Rupesh Kumar, Adv. Mr. Sansriti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the underlying shares. Having considered the submission as well as the judgment of the Punjab and Haryana High Court (which seems to have been rendered in the context of situation existing prior to introduction of Section 47 (xa) ) as well as the provisions of the concerned scheme i.e. Foreign Currency Exchangeable Bond Scheme, 2008 dated 10.08.2008 {introduced prior to the insertion of Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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