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Computation of transfer income requires full consideration less specified deductions and FIFO for securities' acquisition and holding. Income from transfer of an investment asset equals the full value of consideration received or accrued on transfer reduced by the aggregate amount of specified deductions. For beneficial interests in securities, the cost of acquisition and the period of holding are determined by the first-in-first-out method for computing gain.
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Provisions expressly mentioned in the judgment/order text.
<h1>Computation of transfer income requires full consideration less specified deductions and FIFO for securities' acquisition and holding.</h1> Income from transfer of an investment asset equals the full value of consideration received or accrued on transfer reduced by the aggregate amount of specified deductions. For beneficial interests in securities, the cost of acquisition and the period of holding are determined by the first-in-first-out method for computing gain.
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