https://www.taxtmi.com/caselaws?id=379566 For capital gains purposes, the holding period for development rights runs from the substantive acquisition of those rights, and a later registered agreement does not by itself change the acquisition date. On the facts, the rights were acquired under agreements entered into in 1997, so the transfer gain was treated as long-term capital gains and not short-term capital gains. The assessee's exemption claims were also sustained because investment in bonds qualified for deduction under section 54EC, and the funds were found to have been used for construction of a jointly owned house, supporting deduction under section 54F. The contrary objection based on routing of funds was rejected on the factual record. en-us Tue, 30 Apr 2019 00:00:00 +0530 Fri, 03 May 2019 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379566 For capital gains purposes, the holding period for development rights runs from the substantive acquisition of those rights, and a later registered agreement does not by itself change the acquisition date. On the facts, the rights were acquired under agreements entered into in 1997, so the transfer gain was treated as long-term capital gains and not short-term capital gains. The assessee's exemption claims were also sustained because investment in bonds qualified for deduction under section 54EC, and the funds were found to have been used for construction of a jointly owned house, supporting deduction under section 54F. The contrary objection based on routing of funds was rejected on the factual record. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379566