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1967 (7) TMI 9 - SC - Income TaxHigh Court was right in holding that the bonus shares should have been valued at their face value and the loss of Rs. 35,000 on the valuation of the shares as such should have been considered in determining the applicability of s. 23A - proper method of valuation is to spread the cost of the old shares over the old shares and the new issue (viz., the bonus shares) taken together - Case remanded
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