https://www.taxtmi.com/caselaws?id=64018 Tenancy rights surrendered for consideration were treated as a long-term capital asset where the assessee remained in possession after expiry of the original lease and the landlord accepted rent, indicating tenancy by holding over under section 116 of the Transfer of Property Act. Such holding over was described as a continuation of the original tenancy, not a fresh monthly tenancy for section 2(42A) of the Income-tax Act, so the period of holding ran well beyond 36 months. On that footing, the gain was characterised as long-term capital gain and exemption under section 54EA was stated to be available. en-us Wed, 16 May 2001 00:00:00 +0530 Thu, 03 Feb 2011 11:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64018 Tenancy rights surrendered for consideration were treated as a long-term capital asset where the assessee remained in possession after expiry of the original lease and the landlord accepted rent, indicating tenancy by holding over under section 116 of the Transfer of Property Act. Such holding over was described as a continuation of the original tenancy, not a fresh monthly tenancy for section 2(42A) of the Income-tax Act, so the period of holding ran well beyond 36 months. On that footing, the gain was characterised as long-term capital gain and exemption under section 54EA was stated to be available. Case-Laws Income Tax Wed, 16 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64018