https://www.taxtmi.com/highlights?id=59754 Long term capital asset as per Section 2(42A) - period of holding - Memorandum explaining the provision in the Finance Bill - after taking into consideration that the condition for the period of holding was curtailed from 36 months to 12 months by the Finance Act, 1987, it was only for 'share held in a company' - the said Memorandum clearly makes a distinction between the company shares and other than company shares. The above decision of the ITAT has laid down the correct legal principle which we have discussed in the preceding paragraphs. - HC en-us Mon, 20 Sep 2021 10:31:41 +0530 Mon, 20 Sep 2021 10:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=59754 Long term capital asset as per Section 2(42A) - period of holding - Memorandum explaining the provision in the Finance Bill - after taking into consideration that the condition for the period of holding was curtailed from 36 months to 12 months by the Finance Act, 1987, it was only for 'share held in a company' - the said Memorandum clearly makes a distinction between the company shares and other than company shares. The above decision of the ITAT has laid down the correct legal principle which we have discussed in the preceding paragraphs. - HC Highlights Income Tax Mon, 20 Sep 2021 10:31:41 +0530 https://www.taxtmi.com/highlights?id=59754