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    Revision u/s 263 - issue of bonus shares would amount to...

    Issuance of Bonus Shares to Equity Holders Not Considered Dividends u/s 263; Section 115-O Inapplicable.

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    Income TaxApril 19, 2022Case LawsAT

    Revision u/s 263 - issue of bonus shares would amount to distribution of dividend or not - the assessee has issued only equity shares and there are no preference shares. The bonus has been issued to equity shareholders only. Thus, the assessee’s case do not fall either in Clause (a) or Clause (b) of Sec.2(22). This being so, the amount of bonus could not be held to be dividend and accordingly, Sec.115-O would have no application in such a case. - AT

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