Interest in land is Assets for determining FMV of shares & Capital Gain Calculation

PCIT Vs Dr. Karan Singh (Jammu & Kashmir High Court) In a landmark decision, the Jammu & Kashmir and Ladakh High Court has clarified the position regarding the inclusion of leasehold interest in land as an asset of a company, especially in the context of share valuation and the calculation of capital gains. The case, PCIT vs Dr. Karan Singh, revolves around the transfer of shares by Dr. Karan Singh and his family members in M/s. Jyoti Pvt. Ltd., and whether the value of the leasehold land should be considered in calculating the cost of acquisition for capital gains purposes. Dr. Karan ...