What is the cost of bonus shares and those holdings which gave rise to such bonus, in the case of a person carrying on business of dealing in shares. Also, how is the closing stock be valued in this scenario.
My understanding is that, though not explicitly mentioned, the treatment followed for computing capital gain will also be followed for computing profits from business. The section defining cost of bonus seems to apply only to the head capital gains. Thanking you
CAclubindia
