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1963 (11) TMI 96 - HC - Income TaxExtract: .......axed in its entirety as capital gains under section 12B of the Act. What could be brought to tax under that provision is only the excess of ₹ 7,269, if any, over the face value of the 94 bonus shares held and disposed of by the assessee. The reference is answered accordingly. There will be no order as to costs. Reference answered accordingly.
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