https://www.taxtmi.com/caselaws?id=170909 For computing capital gains under section 12B(2), the full value of consideration must reflect the true market value of the capital asset transferred, not an artificial price fixed in a composite arrangement. Where a share sale is coupled with the transfer of managing agency rights, the consideration must be apportioned between the two elements according to their real value. On that basis, the share price was taken at market value rather than the higher contractual figure, and the assessee could also rely on the proviso to section 12B(2) where substitution of fair market value for actual cost was applicable. en-us Tue, 04 Sep 1956 00:00:00 +0530 Mon, 29 Jun 2015 15:52:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170909 For computing capital gains under section 12B(2), the full value of consideration must reflect the true market value of the capital asset transferred, not an artificial price fixed in a composite arrangement. Where a share sale is coupled with the transfer of managing agency rights, the consideration must be apportioned between the two elements according to their real value. On that basis, the share price was taken at market value rather than the higher contractual figure, and the assessee could also rely on the proviso to section 12B(2) where substitution of fair market value for actual cost was applicable. Case-Laws Income Tax Tue, 04 Sep 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170909