https://www.taxtmi.com/caselaws?id=276176 For capital gains purposes, the holding period starts when the assessee acquires an enforceable right in the property through an allotment letter, not from later conveyance or registration; on that basis, the properties were treated as long-term capital assets and section 54/54F relief was available. The deeming fiction in section 50 applies only to capital gains computation for depreciable assets and does not bar exemption under section 54F, so prior depreciation did not defeat the claim. Share transactions were assessed on the investment-versus-trading distinction: the assessee's conduct and accounting supported investment treatment, and only very short-holding transactions were treated as business income. en-us Wed, 22 Mar 2017 00:00:00 +0530 Thu, 01 Nov 2018 13:50:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276176 For capital gains purposes, the holding period starts when the assessee acquires an enforceable right in the property through an allotment letter, not from later conveyance or registration; on that basis, the properties were treated as long-term capital assets and section 54/54F relief was available. The deeming fiction in section 50 applies only to capital gains computation for depreciable assets and does not bar exemption under section 54F, so prior depreciation did not defeat the claim. Share transactions were assessed on the investment-versus-trading distinction: the assessee's conduct and accounting supported investment treatment, and only very short-holding transactions were treated as business income. Case-Laws Income Tax Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276176