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1924 (3) TMI 3 - HC - Income TaxExtract: .......bonus shares to the members of a company does not render the shares so allotted liable to be assessed for super-tax inasmuch, as they are not a part of income but are as an addition to capital. In my opinion we ought to follow the decision in Blott's case (sic) 1 K.B. 114 and I would therefore answer the question referred to us in the negative.
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