https://www.taxtmi.com/caselaws?id=36036 For capital gains computation, the actual price paid for a genuine block purchase was treated as the cost of acquisition, and controlling interest was not recognised as a separate capital asset capable of independent valuation; the cost was therefore Rs. 100 per share. The exemption in paragraph 15(1)(iii) of the Part B States (Taxation Concessions) Order, 1950 was confined to the bona fide annual value of palaces declared as official residences and did not extend to capital gains from sale of land forming part of, or appurtenant to, such residence; the claimed exemption was unavailable. en-us Sat, 21 Feb 1981 00:00:00 +0530 Fri, 19 Mar 2010 10:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36036 For capital gains computation, the actual price paid for a genuine block purchase was treated as the cost of acquisition, and controlling interest was not recognised as a separate capital asset capable of independent valuation; the cost was therefore Rs. 100 per share. The exemption in paragraph 15(1)(iii) of the Part B States (Taxation Concessions) Order, 1950 was confined to the bona fide annual value of palaces declared as official residences and did not extend to capital gains from sale of land forming part of, or appurtenant to, such residence; the claimed exemption was unavailable. Case-Laws Income Tax Sat, 21 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36036