https://www.taxtmi.com/caselaws?id=212850 The High Court interpreted Section 2(42A) of the Income Tax Act, ruling that the holding period for determining short or long term capital gains should include the date of acquisition and transfer without excluding any day. The Court held that if an asset is held for 12 or 36 months and sold the day after the period ends, it qualifies as a long term capital asset. Consequently, the Court ruled in favor of the appellant, allowing the appeal with no order as to costs. en-us Thu, 12 Apr 2012 00:00:00 +0530 Wed, 16 May 2012 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212850 The High Court interpreted Section 2(42A) of the Income Tax Act, ruling that the holding period for determining short or long term capital gains should include the date of acquisition and transfer without excluding any day. The Court held that if an asset is held for 12 or 36 months and sold the day after the period ends, it qualifies as a long term capital asset. Consequently, the Court ruled in favor of the appellant, allowing the appeal with no order as to costs. Case-Laws Income Tax Thu, 12 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212850