https://www.taxtmi.com/caselaws?id=785047 Whether holding period of gifted shares qualifies them as long-term capital assets under s.2(29AA) read with s.49(1)(ii): Tribunal held that s.49(1)(ii) deems the cost of acquisition and, by necessary implication via s.2(29AA)/s.2(42A) and Explanation 1(i), imports the previous owner's period of holding for computing capital gains; therefore the shares received by gift trace their acquisition date to the donor's original acquisition. Outcome: the shares were long-term capital assets and the resulting gain qualified for deduction under s.54F; decision against Revenue. en-us Tue, 25 Nov 2025 00:00:00 +0530 Fri, 16 Jan 2026 08:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785047 Whether holding period of gifted shares qualifies them as long-term capital assets under s.2(29AA) read with s.49(1)(ii): Tribunal held that s.49(1)(ii) deems the cost of acquisition and, by necessary implication via s.2(29AA)/s.2(42A) and Explanation 1(i), imports the previous owner's period of holding for computing capital gains; therefore the shares received by gift trace their acquisition date to the donor's original acquisition. Outcome: the shares were long-term capital assets and the resulting gain qualified for deduction under s.54F; decision against Revenue. Case-Laws Income Tax Tue, 25 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785047