https://www.taxtmi.com/article/detailed?id=16411 The commentary examines whether replacing the phrase "capital gain arising from transfer of a long-term capital asset" with "long-term capital gains" affects exemption eligibility for depreciable long-term capital assets. It discusses two competing views on whether the deeming fiction for computation can extend to the exemption provision, but concludes that the fiction should remain confined to computation and not alter eligibility, absent a clear legislative directive to the contrary. en-us Wed, 13 May 2026 08:40:52 +0530 Wed, 13 May 2026 08:40:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16411 The commentary examines whether replacing the phrase "capital gain arising from transfer of a long-term capital asset" with "long-term capital gains" affects exemption eligibility for depreciable long-term capital assets. It discusses two competing views on whether the deeming fiction for computation can extend to the exemption provision, but concludes that the fiction should remain confined to computation and not alter eligibility, absent a clear legislative directive to the contrary. Articles Income Tax Wed, 13 May 2026 08:40:52 +0530 https://www.taxtmi.com/article/detailed?id=16411