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2013 (11) TMI 566 - AT - Income TaxCapital gain – Shares of ESOP - Period of holding from date of grant of option or date of exercise of option - Whether sale of ESOP constitutes long term (LTCG) or short term capital gains (STCG) – Held that:- Following ACIT vs. Dr. Dhurjati Gupta [2009 (1) TMI 315 - ITAT HYDERABAD-B] - The benefit of deferment of purchase price cannot lead to an inference that no right accrued to assessee - The sales of such valuable rights after lock in period are liable to be taxed under the head “long term capital gains” and not ‘short term capital gains’ – 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 4 years - Decided against Revenue.
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