25 Points
Joined September 2019
Here are the facts of the case for better understanding. The individuals have already made the sale.
A company has sold leasehold rights pertaining to land to an individual in 1972. After his expiry, his family acquired the rights. They were paying small amounts of rent to the company up to a lease period of 30 years and renewed after the expiry for another 30 years. Also they have constructed a building.
Now the individuals have sold the rights and the building to another pvt ltd company with the approval of lessor company. Now how to compute capital gain on this sale, as the cost of acquisition of rights can't be determined properly.