https://www.taxtmi.com/caselaws?id=364239 Perpetual easementary rights were treated as valuable property rights within the wide meaning of "property of any kind", so their grant was a capital asset. The irrevocable grant of a perpetual right of way and ingress and egress was held to involve relinquishment or extinguishment of rights and therefore amounted to a transfer chargeable to capital gains tax. On the facts, the full consideration was held to have accrued in the year under appeal because use of the easement began from the agreement date and the balance payment was secured by the arrangement. The appellate enhancement and taxation of the entire accrued consideration were upheld. en-us Thu, 31 May 2018 00:00:00 +0530 Wed, 25 Jul 2018 07:46:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364239 Perpetual easementary rights were treated as valuable property rights within the wide meaning of "property of any kind", so their grant was a capital asset. The irrevocable grant of a perpetual right of way and ingress and egress was held to involve relinquishment or extinguishment of rights and therefore amounted to a transfer chargeable to capital gains tax. On the facts, the full consideration was held to have accrued in the year under appeal because use of the easement began from the agreement date and the balance payment was secured by the arrangement. The appellate enhancement and taxation of the entire accrued consideration were upheld. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364239