Supreme Court · 1969 INSC 101 · Decided 3 April 1969
Commissioner of Income-Tax, Central Calcutl'a v. Gold Mohore Investment CO. LTD.
- Court
- Supreme Court of India
- Citation
- 1969 INSC 101 · [1970] 1 S.C.R. 199
- Case number
- CIVIL APPEAL No. 1236/1967
- Decided
- 3 April 1969
- Bench
- M. HIDAYATULLAH, J.C. SHAH, V. RAMASWAMI, G.K. MITTER, A.N. GROVER (5-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Conipany-Allotn1ent of bonus shares against original holding of shares -.\fethod of calculating profit or loss on sale of original and bonus shares. The respon~nt" company was a dealer in shares. In respect of each of ils holdings f shares in two allotted a s~t of bonus shares which were to rank pari passu with the old shares. Upon allotment of these bonus shares, the respondent company credited an. amount .representing the face value of the bonus shares received free of cost to - a capital reserve account. Later, both the old as well as
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