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1971 (8) TMI 5 - SUPREME COURTBonus Shares - assessee revaluates its assets for the purpose of issuing bonus shares, but Government declined to grant permission for the issue - It was for the assessee to establish that the figure had been inflated for acceptable reasons - It is also open to the Officer not to accept the figure given by the assessee but, to arrive at another figure, if he is satisfied for good reasons that the valuation was wrong
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