Capital gain on sublease of property

Sir, One of my client purchases a property on a lease in textile park. . The client got shares of textile park with deed of sublease. Now my client subleases the property. My question is while calculating the capital gain is it the tenancy rights or the property or the shares which is being transferred on which I should pay capital gain. In short which of these to be considered as asset that is being transferred?

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Quick Summary
This discussion explores the complexities of capital gains tax when a client subleases a property acquired through a lease and shares in a textile park. The core question is whether the capital gain should be calculated on the transfer of tenancy rights, the property itself, or the shares. Clarification is needed on what constitutes the 'asset' being transferred in a sublease arrangement to accurately determine tax obligations.

Unless the lease is transferred in the name of new purchaser, it will not be transfer of an asset.

Need to check the transfer via sub-lease in detail.

Sub lease is a different concept .
Here rights of property is not transferred.

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