https://www.taxtmi.com/caselaws?id=407688 The Tribunal ruled in favor of the assessee, determining that the capital gain from the asset transfer should be treated as Long Term Capital Gain (LTCG) instead of Short Term Capital Gain (STCG). The Tribunal considered the assessee's possession and rights in the property since 1993, concluding that the gain qualified as LTCG due to the extended holding period, contrary to the CIT(A)'s decision. The appeal was allowed, and the order was issued on 22/10/2020. en-us Thu, 22 Oct 2020 00:00:00 +0530 Wed, 19 May 2021 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407688 The Tribunal ruled in favor of the assessee, determining that the capital gain from the asset transfer should be treated as Long Term Capital Gain (LTCG) instead of Short Term Capital Gain (STCG). The Tribunal considered the assessee's possession and rights in the property since 1993, concluding that the gain qualified as LTCG due to the extended holding period, contrary to the CIT(A)'s decision. The appeal was allowed, and the order was issued on 22/10/2020. Case-Laws Income Tax Thu, 22 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407688