https://www.taxtmi.com/caselaws?id=751400 The dominant issue was whether gains on sale of equity shares were taxable as STCG or LTCG by determining the "date of transfer" and corresponding holding period. The Tribunal held that where a share purchase agreement contains conditions precedent and an express right of rescission, the contract of sale crystallizes only upon satisfaction of those conditions, and not on the execution date of the agreement; this accords with CBDT Circular No. 704 and precedent treating transfer as occurring when contractual conditions are fulfilled, with both acquisition and transfer dates counted for holding-period computation. Consequently, the shares were held for more than 12 months up to the transfer date, and the gains were held to be LTCG, allowing the appeal grounds. en-us Wed, 14 Feb 2024 00:00:00 +0530 Tue, 30 Dec 2025 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751400 The dominant issue was whether gains on sale of equity shares were taxable as STCG or LTCG by determining the "date of transfer" and corresponding holding period. The Tribunal held that where a share purchase agreement contains conditions precedent and an express right of rescission, the contract of sale crystallizes only upon satisfaction of those conditions, and not on the execution date of the agreement; this accords with CBDT Circular No. 704 and precedent treating transfer as occurring when contractual conditions are fulfilled, with both acquisition and transfer dates counted for holding-period computation. Consequently, the shares were held for more than 12 months up to the transfer date, and the gains were held to be LTCG, allowing the appeal grounds. Case-Laws Income Tax Wed, 14 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751400