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1989 (9) TMI 15 - HC - Income TaxExtract: ....... the issue. In the result, the first question is answered thus The 120 bonus shares issued by the Century Mills Ltd. were held by the assessee on and from the date on which they were issued. Consequently, the second question is answered thus The capital gain of Rs. 84,492 arising on the sale whereof is short-term capital gain. No order as to costs.
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