1989 (2) TMI 2 - SUPREME COURT

Transfer of a capital asset - Capital Gains, Determination Of Cost Of Acquisition - whether the grant of a mining lease for a period of ten years by the assessee can give rise to capital gain taxable under section 45 - Held, yes - held that cost of acquisition of the mining lease had to be apportioned from the cost of the land as on date of acquisition of the freehold rights.