https://www.taxtmi.com/caselaws?id=176234 Possession under a lease-cum-sale arrangement, coupled with part performance under section 53A of the Transfer of Property Act, was treated as conferring beneficial ownership from the date of possession. The holding period was therefore counted from that date, and since it exceeded 36 months the asset qualified as a long-term capital asset under section 2(42) of the Income-tax Act. The statutory concept of transfer under section 2(47)(v) supported that approach, so the capital gains were correctly assessed as long-term capital gains in favour of the assessee. en-us Mon, 17 Dec 2007 00:00:00 +0530 Thu, 17 Dec 2015 15:17:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176234 Possession under a lease-cum-sale arrangement, coupled with part performance under section 53A of the Transfer of Property Act, was treated as conferring beneficial ownership from the date of possession. The holding period was therefore counted from that date, and since it exceeded 36 months the asset qualified as a long-term capital asset under section 2(42) of the Income-tax Act. The statutory concept of transfer under section 2(47)(v) supported that approach, so the capital gains were correctly assessed as long-term capital gains in favour of the assessee. Case-Laws Income Tax Mon, 17 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176234