https://www.taxtmi.com/caselaws?id=797601 Properties devolving on a beneficiary upon dissolution of a family trust fall within succession, inheritance or devolution under Section 49(1)(iii)(a). Where acquisition cost is determined by reference to the previous owner, the previous owner's holding period must be included in determining whether the asset is long-term under Explanation 1(b) to Section 2(42A). The same deeming framework applies to indexed cost under Section 48, permitting indexation from the year in which the previous owner first held the property. Accordingly, sale gains are treated as long-term capital gains rather than short-term gains. en-us Thu, 20 Aug 2026 00:00:00 +0530 Tue, 25 Aug 2026 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797601 Properties devolving on a beneficiary upon dissolution of a family trust fall within succession, inheritance or devolution under Section 49(1)(iii)(a). Where acquisition cost is determined by reference to the previous owner, the previous owner's holding period must be included in determining whether the asset is long-term under Explanation 1(b) to Section 2(42A). The same deeming framework applies to indexed cost under Section 48, permitting indexation from the year in which the previous owner first held the property. Accordingly, sale gains are treated as long-term capital gains rather than short-term gains. Case-Laws Income Tax Thu, 20 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797601