https://www.taxtmi.com/caselaws?id=20377 The High Court ruled in favor of the Revenue, rejecting the assessee's claims. The Court held that the period of ownership for capital gains tax calculation should include the donor's ownership period, distinguished between gold bonds and primary gold as separate capital assets, and determined that the capital gain from the sale of primary gold should be treated as a long-term capital gain. The judgment emphasized the distinct nature of the assets involved and aligned with relevant provisions of the Income-tax Act and circulars issued by the Central Board of Direct Taxes. en-us Mon, 26 Apr 1993 00:00:00 +0530 Fri, 13 Nov 2009 15:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20377 The High Court ruled in favor of the Revenue, rejecting the assessee's claims. The Court held that the period of ownership for capital gains tax calculation should include the donor's ownership period, distinguished between gold bonds and primary gold as separate capital assets, and determined that the capital gain from the sale of primary gold should be treated as a long-term capital gain. The judgment emphasized the distinct nature of the assets involved and aligned with relevant provisions of the Income-tax Act and circulars issued by the Central Board of Direct Taxes. Case-Laws Income Tax Mon, 26 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20377