1998 (3) TMI 34

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..... -The question of law referred at the instance of the assessee under section 256(2) of the Income-tax Act, 1961, for the assessment year 1973-74 is whether, on the facts and circumstances of the case, the method adopted by the Tribunal for valuing the cost of the shares in the hands of the assessee for the purpose of arriving at the taxable capital gains is correct in law. The assessee was an inv .....

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..... including bonus shares were acquired by the Government in the case of another shareholder, and this court held that it is not necessary to ascertain the individual cost of each share when the whole lot of shares including the bonus shares were acquired by the Government. It is not disputed that the earlier decision rendered by this court in Mala Ramesh v. CIT [1995] 214 ITR 223 (Mad), applies to .....

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