https://www.taxtmi.com/caselaws?id=775364 Contemporaneous transmission certificates and demat-account reconciliation showed that the equity shares sold had been received earlier from the parents and were reflected as opening balances or family transfers in the demat records. On that basis, the holding period was treated as having run for the requisite statutory period, so the gains were assessed as long-term capital gains rather than short-term capital gains. Exemption under section 10(38) of the Income-tax Act, 1961 was allowed, and the addition made by treating the receipts as short-term capital gains was deleted. en-us Mon, 21 Jul 2025 00:00:00 +0530 Thu, 24 Jul 2025 08:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775364 Contemporaneous transmission certificates and demat-account reconciliation showed that the equity shares sold had been received earlier from the parents and were reflected as opening balances or family transfers in the demat records. On that basis, the holding period was treated as having run for the requisite statutory period, so the gains were assessed as long-term capital gains rather than short-term capital gains. Exemption under section 10(38) of the Income-tax Act, 1961 was allowed, and the addition made by treating the receipts as short-term capital gains was deleted. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775364