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2003 (7) TMI 280 - AT - Income TaxExtract: .......of the Apex Court in the case of B.C. Srinivasa Setty has no application while calculating capital gains on bonus shares (iii) the amendment to section 55(2) by incorporation of clause (iiia) w.e.f. 1-4-1996 is substantive and has no retrospective effect. 22. As a result of the discussion above, the appeal of revenue succeeds and is hereby allowed.
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