MANU/SC/0084/1968

IN THE SUPREME COURT OF INDIA

Decided On: 06.09.1968

Appellants: Commissioner of Income-tax, Uttar Pradesh
Vs.
Respondent: Madan Gopal Radhey Lal

JUDGMENT

Shah, J.

1. M/s. Madan Gopal Radhey Lal - hereinafter called the assessees-deal in shares and securities. They held in the relevant years as part of their stock-in-trade shares of certain companies. The assessees received from the companies at different times bonus hares proportionate to their equity holding. From time to time the assessees sold the bonus shares received by them. The Income-tax Officer brought to tax Rs. 55,607 in the assessment year 1946

Buy this document