https://www.taxtmi.com/caselaws?id=787875 For shares allotted on demutualisation/corporatisation the applicable demutualisation rules determine both cost and holding period: the cost of acquisition is the original cost of the membership card (not the written down value) and the period of holding includes the period of original membership; accordingly gains on subsequent sale are characterised as long term capital gains, producing the operative effect that assessment must treat the receipts as long term and adopt original membership cost as acquisition cost. en-us Mon, 16 Feb 2026 00:00:00 +0530 Fri, 13 Mar 2026 08:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787875 For shares allotted on demutualisation/corporatisation the applicable demutualisation rules determine both cost and holding period: the cost of acquisition is the original cost of the membership card (not the written down value) and the period of holding includes the period of original membership; accordingly gains on subsequent sale are characterised as long term capital gains, producing the operative effect that assessment must treat the receipts as long term and adopt original membership cost as acquisition cost. Case-Laws Income Tax Mon, 16 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787875