2001 (2) TMI 9 - SUPREME COURT

Capital Gains- Computation - Having regard to the fact that the assessees could have disclosed, without prejudice to their contentions, the cost at which they had acquired their shares in the amalgamated company. We are at a loss to understand the reasoning of the High Court in giving to the Revenue the liberty to consider taxing the assessees on the basis that it was "a transaction by itself whereunder a share of ₹ 100 each was sold as a share of ₹ 107.50 - appeal of revenue is allowed