https://www.taxtmi.com/caselaws?id=799417 Transferable tenancy rights linked to an identified immovable property and sold for ascertainable consideration constitute a chargeable capital asset for capital-gains purposes. Sections 45 and 48 operate as an integrated charging and computation framework; inability to prove the previous owner's historical acquisition cost following inheritance affects quantification, not chargeability, where the rights remain identifiable and capable of valuation. Fair market value as on 1 April 2001 and the resulting indexed cost require factual and, where necessary, technical verification of the valuation report. Capital gains therefore remain chargeable, subject to lawful recomputation of the taxable amount after valuation and indexation are determined. en-us Wed, 25 Mar 2026 00:00:00 +0530 Tue, 22 Sep 2026 08:17:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799417 Transferable tenancy rights linked to an identified immovable property and sold for ascertainable consideration constitute a chargeable capital asset for capital-gains purposes. Sections 45 and 48 operate as an integrated charging and computation framework; inability to prove the previous owner's historical acquisition cost following inheritance affects quantification, not chargeability, where the rights remain identifiable and capable of valuation. Fair market value as on 1 April 2001 and the resulting indexed cost require factual and, where necessary, technical verification of the valuation report. Capital gains therefore remain chargeable, subject to lawful recomputation of the taxable amount after valuation and indexation are determined. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799417