Business trust definition and capital asset expansion redefine treatment of listed trust units and investor securities under tax law. A new business trust definition is added for listed Infrastructure Investment Trusts and Real Estate Investment Trusts; capital asset is expanded to include securities held by Foreign Institutional Investors with explanatory definitions; administrative officer titles are redefined; additions treat units of business trusts as capital assets with holding periods including prior share holdings where allotted following certain transfers; clause adjustments narrow listed securities, substitute equity oriented fund units, and add a transitional proviso and an explanation defining equity oriented fund.
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Business trust definition and capital asset expansion redefine treatment of listed trust units and investor securities under tax law.
A new business trust definition is added for listed Infrastructure Investment Trusts and Real Estate Investment Trusts; capital asset is expanded to include securities held by Foreign Institutional Investors with explanatory definitions; administrative officer titles are redefined; additions treat units of business trusts as capital assets with holding periods including prior share holdings where allotted following certain transfers; clause adjustments narrow listed securities, substitute equity oriented fund units, and add a transitional proviso and an explanation defining equity oriented fund.
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