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2002 (5) TMI 28 - HC - Income TaxTransfer Of Assets, Revocable Gift - In ordinary practice, a person who sells a share keeps the bonus shares which he has got. The bonus shares do not accompany the original "share" when it is sold. Even the Revenue has not suggested that the dividend which had accrued during the period when the gift was in force should also be deemed to have reverted to the assessee on the revocation of the gift. If the dividend belongs to the donee, the bonus shares cannot be treated differently. - No other point has been raised. - In view of the above, we find no merit in this appeal. It is, consequently, dismissed.
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