https://www.taxtmi.com/caselaws?id=239389 The ITAT upheld the CIT(A)'s decision, ruling in favor of the assessee regarding the treatment of long term capital gains and exemption under sec. 54F. The key issue was the interpretation of sec. 54F for exemption eligibility based on the acquisition date of shares under ESOPs. The ITAT considered the option grant date as the acquisition date, rejecting the AO's stance and emphasizing valuable rights acquired over the years. By applying judicial pronouncements, the ITAT affirmed the assessee's entitlement to exemption and treatment of gains as long term capital gains. en-us Fri, 13 Apr 2012 00:00:00 +0530 Wed, 13 Nov 2013 08:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239389 The ITAT upheld the CIT(A)'s decision, ruling in favor of the assessee regarding the treatment of long term capital gains and exemption under sec. 54F. The key issue was the interpretation of sec. 54F for exemption eligibility based on the acquisition date of shares under ESOPs. The ITAT considered the option grant date as the acquisition date, rejecting the AO's stance and emphasizing valuable rights acquired over the years. By applying judicial pronouncements, the ITAT affirmed the assessee's entitlement to exemption and treatment of gains as long term capital gains. Case-Laws Income Tax Fri, 13 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239389