COMMISSIONER OF INCOME-TAX versus G.N. VENKATAPATHY
Capital Gain Capital Gains Count Capital Assets Acquisition Shares Bonus Shares Original shares acquired before 1 1964 and Bonus shares issued after 1 1964 Assisi's sale Assisi at its fair market value 1 196 1964 Chooses to value the original shares, which is adopted by Essex and the combination of both the original and the bonus shares and their average and bonus shares are combined together and their average value is equal to the prices. Is taken as the Indian Income Tax Act, 1961, sections 45 and 55
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