https://www.taxtmi.com/caselaws?id=278815 The Appellate Tribunal ITAT Mumbai upheld the decision confirming the treatment of Capital Gain as Short Term Capital Gain and denying the exemption under section 54 of the Income Tax Act. The Tribunal found that the assessee's ownership of the property for a brief period before the sale warranted the classification of the gain as STCG, leading to the dismissal of the appeal. The judgment highlighted the importance of the duration of ownership in determining the nature of Capital Gain for tax purposes. en-us Mon, 31 Jul 2017 00:00:00 +0530 Fri, 22 Feb 2019 06:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278815 The Appellate Tribunal ITAT Mumbai upheld the decision confirming the treatment of Capital Gain as Short Term Capital Gain and denying the exemption under section 54 of the Income Tax Act. The Tribunal found that the assessee's ownership of the property for a brief period before the sale warranted the classification of the gain as STCG, leading to the dismissal of the appeal. The judgment highlighted the importance of the duration of ownership in determining the nature of Capital Gain for tax purposes. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278815