Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1997 (1) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1997 (1) TMI 2 - SC - Income TaxAssessee a dealer in shares got in exchange of a particular share another companies share which was held by him at the cost of original share - difference between the market value and the cost was treated by revenue as capital gains - held that as a result of their having taken the shares in the second company in exchange for the shares of the first company the assessee had made realisation of the value of the shares of the first company - so it has to be treated as a profit of the assessee
|