https://www.taxtmi.com/caselaws?id=756919 The ITAT Delhi held that an NRI assessee's capital gain from transfer of employment-related rights and interests constituted short-term capital gain, not long-term, as the asset was held for less than 36 months. The shares were never delivered in the assessee's name, so the benefit of reduced holding period for Indian company shares under section 2(42A) was unavailable. However, since the capital asset was situated in USA per the employment agreement executed there, the gain was not taxable in India under section 9(1)(i). The tribunal directed the AO to accept the capital gain as offered by the assessee in the return, consistent with the termination agreement terms. en-us Thu, 18 Jul 2024 00:00:00 +0530 Mon, 12 Aug 2024 08:25:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756919 The ITAT Delhi held that an NRI assessee's capital gain from transfer of employment-related rights and interests constituted short-term capital gain, not long-term, as the asset was held for less than 36 months. The shares were never delivered in the assessee's name, so the benefit of reduced holding period for Indian company shares under section 2(42A) was unavailable. However, since the capital asset was situated in USA per the employment agreement executed there, the gain was not taxable in India under section 9(1)(i). The tribunal directed the AO to accept the capital gain as offered by the assessee in the return, consistent with the termination agreement terms. Case-Laws Income Tax Thu, 18 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756919