« Last post by vsaiyar on September 02, 2015, 07:48:38 PM »
What one needs to understand is that the bonus shares are not paid for by the receipient, but does have a cost. The price of shares quoted before bonus if is X exbonus the valus the shares is halved. One needs to go through the taxation of bonus shares in the past so that the matter will be come clear. In view of this the argument of the AO will not be sustained.