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2012 (10) TMI 1030 - AT - Income TaxSale of ESOP shares - LTCG or STCG - Date of acquisition - date of allotment - Held that:- The undisputed fact is that the assessee acquired the right in the form of employees stock option plan (ESOP) from Gillette Co. ESOPs are cashless. The assessee surrendered these rights and obtained certain amount, being the difference of the price of shares between the date of grant and the date of surrender. On these facts, in our opinion the issues are covered in favour of assessee by the decision of the Delhi Bench of the Tribunal in the case of Abhiram Seth (2011 (9) TMI 186 - ITAT, New Delhi)wherein held that the right of shares constitute capital assets and the gains should be taxed as “Long Term Capital Gains” as the holding period is more than 3 years. - Decided in favor of assessee.
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