https://www.taxtmi.com/caselaws?id=378314 The Tribunal concluded that the assessee's gain from the sale of land should be treated as long-term capital gain (LTCG) and not short-term capital gain (STCG). As the property was acquired in 1996, the gain upon its sale in 2008 qualified for exemption under section 54EC. The Tribunal overturned the decisions of the Commissioner of Income Tax (Appeals) and the Assistant Commissioner of Income Tax, ruling in favor of the assessee. The order, issued on 13.03.2019, reflected a thorough assessment of legal and factual considerations, ensuring a just outcome. en-us Wed, 13 Mar 2019 00:00:00 +0530 Fri, 12 Apr 2019 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378314 The Tribunal concluded that the assessee's gain from the sale of land should be treated as long-term capital gain (LTCG) and not short-term capital gain (STCG). As the property was acquired in 1996, the gain upon its sale in 2008 qualified for exemption under section 54EC. The Tribunal overturned the decisions of the Commissioner of Income Tax (Appeals) and the Assistant Commissioner of Income Tax, ruling in favor of the assessee. The order, issued on 13.03.2019, reflected a thorough assessment of legal and factual considerations, ensuring a just outcome. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378314