https://www.taxtmi.com/caselaws?id=28190 Composite consideration for the transfer of shares and delegation of powers linked to a managing directorship must be apportioned according to the true legal character of each component. Under Section 12B of the Indian Income-tax Act, 1922, the entire receipt cannot be treated as capital gains from the share sale where the agreement also covers managerial rights. Taxable capital gains must therefore be computed only after allocating the consideration between the share transfer and managerial-rights component and allowing permissible deductions. en-us Tue, 26 Apr 1983 00:00:00 +0530 Fri, 19 Feb 2010 15:34:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28190 Composite consideration for the transfer of shares and delegation of powers linked to a managing directorship must be apportioned according to the true legal character of each component. Under Section 12B of the Indian Income-tax Act, 1922, the entire receipt cannot be treated as capital gains from the share sale where the agreement also covers managerial rights. Taxable capital gains must therefore be computed only after allocating the consideration between the share transfer and managerial-rights component and allowing permissible deductions. Case-Laws Income Tax Tue, 26 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28190