https://www.taxtmi.com/caselaws?id=13532 Transfer of leasehold rights was treated as a capital receipt falling within the capital gains regime, and the authorities were said to have erred in assuming that the cost of acquisition could not be determined. The assessing authority must determine that cost on the evidence in each case, and a remand may be necessary for that purpose. The residuary head of income could not be invoked merely because the capital gains computation was disputed. On the facts stated, the receipt was assessable as capital gains, with the cost of acquisition to be determined by the Assessing Officer after hearing the assessee. en-us Wed, 20 Jun 2007 00:00:00 +0530 Fri, 29 May 2009 13:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13532 Transfer of leasehold rights was treated as a capital receipt falling within the capital gains regime, and the authorities were said to have erred in assuming that the cost of acquisition could not be determined. The assessing authority must determine that cost on the evidence in each case, and a remand may be necessary for that purpose. The residuary head of income could not be invoked merely because the capital gains computation was disputed. On the facts stated, the receipt was assessable as capital gains, with the cost of acquisition to be determined by the Assessing Officer after hearing the assessee. Case-Laws Income Tax Wed, 20 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13532