1998 (3) TMI 34 - HC - Income Tax

Summary

The High Court of Madras addressed the method of valuing shares for calculating taxable capital gains in the case of an investor. The Tribunal's decision not to assign separate value to bonus shares was upheld, following a precedent set in a previous case. The court ruled in favor of the Tribunal, stating there was no error in their decision. The question of law was answered in the affirmative, against the assessee, with no costs awarded.