https://www.taxtmi.com/caselaws?id=18039 The court held that the nature of the capital asset (short-term or long-term) must be determined based on the law in force on the date of transfer. The Tribunal was justified in treating the plots as long-term capital assets, and the gains should be taxed accordingly. The court answered the question in the affirmative, in favor of the assessee and against the Revenue, with no order as to costs. en-us Tue, 14 Nov 1995 00:00:00 +0530 Sat, 26 Sep 2009 13:20:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18039 The court held that the nature of the capital asset (short-term or long-term) must be determined based on the law in force on the date of transfer. The Tribunal was justified in treating the plots as long-term capital assets, and the gains should be taxed accordingly. The court answered the question in the affirmative, in favor of the assessee and against the Revenue, with no order as to costs. Case-Laws Income Tax Tue, 14 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18039