https://www.taxtmi.com/caselaws?id=58662 Composite rights in a shop premises must be split for capital gains purposes where the transfer includes both tenancy-related and ownership interests. The consideration is attributable to each distinct right according to its real character, and the taxable gain must be worked out separately for each component. The contention that capital gains provisions were excluded because the cost of acquisition was indeterminable was rejected in principle where at least part of the acquisition cost, including the ownership component, was ascertainable. The cost of the tenancy element required fresh examination, so the apportionment and tax consequences had to be determined again on remand. en-us Thu, 22 Oct 1981 00:00:00 +0530 Tue, 21 Dec 2010 13:53:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58662 Composite rights in a shop premises must be split for capital gains purposes where the transfer includes both tenancy-related and ownership interests. The consideration is attributable to each distinct right according to its real character, and the taxable gain must be worked out separately for each component. The contention that capital gains provisions were excluded because the cost of acquisition was indeterminable was rejected in principle where at least part of the acquisition cost, including the ownership component, was ascertainable. The cost of the tenancy element required fresh examination, so the apportionment and tax consequences had to be determined again on remand. Case-Laws Income Tax Thu, 22 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58662