Mega Offer Avail 65% Off in CA IPCC and 50% Off in all CA CS CMA subjects.Coupon- IPCEXAM65 & EXAM50. Call: 088803-20003

CA Final Online Classes
CA Classes

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Capital Gain ::

LinkedIn


Court :
HC

Brief :
Held by the Hon`ble Bench that as per section 55(2) clause (aa) in case assessee becomes entitled to an additional financial asset by virtue of original holding of shares the cost of acquisition of the original shares cannot be spread over for calculating the capital gain.

Citation :
Bharat S.Shah Vs. J.C.I.T.

Capital gain Bharat S.Shah Vs. J.C.I.T. 03/16/2006 (2006) 285 ITR 174 (Mumbai) Case Fact: Whether original cost of shares is to be spread over for the purpose of working out capital gain on sale of triple option convertible debentures acquired by virtue of original holding of shares? Decision: Held by the Hon`ble Bench that as per section 55(2) clause (aa) in case assessee becomes entitled to an additional financial asset by virtue of original holding of shares the cost of acquisition of the original shares cannot be spread over for calculating the capital gain.
 

CA.Saibaburao Nanduri
on 14 January 2008
Published in Income Tax
Views :
Report Abuse

LinkedIn







Trending Tags