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![No Income Tax on Allotment of Bonus Shares: Karnataka High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/03/Income-Tax-Allotment-of-Bonus-Shares-Karnataka-High-Court-Taxscan.jpg "No Income Tax on Allotment of Bonus Shares: Karnataka High Court [Read Judgment]")
No Income Tax on Allotment of Bonus Shares: Karnataka High Court [Read Judgment]
The Karnataka High Court has ruled that, Fair market value of bonus shares computed as per Rule 11U and Rule 11UA of the Income Tax Rules cannot be...