https://www.taxtmi.com/caselaws?id=295137 The Tribunal partly allowed both appeals, directing the Assessing Officer to reassess the holding period of the capital asset and the eligibility for Section 54F benefits. They emphasized that a settlement deed can be considered equivalent to a gift, rejecting the distinction made by lower authorities. The Tribunal remanded the issue for fresh consideration, instructing the AO to include the period of holding by the previous owner in determining the asset's long-term capital asset status. en-us Wed, 11 May 2016 00:00:00 +0530 Thu, 20 May 2021 14:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295137 The Tribunal partly allowed both appeals, directing the Assessing Officer to reassess the holding period of the capital asset and the eligibility for Section 54F benefits. They emphasized that a settlement deed can be considered equivalent to a gift, rejecting the distinction made by lower authorities. The Tribunal remanded the issue for fresh consideration, instructing the AO to include the period of holding by the previous owner in determining the asset's long-term capital asset status. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295137