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2015 (12) TMI 1421 - HC - Income TaxEntitlement to the benefit of long term capital gains u/s 54 - Held that:- Providing for short term and long term capital gains is a beneficial piece of legislation, whereby certain benefit in taxation is given to the assessee on fulfillment of certain conditions. Every such legislation is to be construed liberally in favour of the assessee, as it is for the benefit of the assessee. When the purpose is to give a benefit, then technicalities in law should not come in the way of such benefit being given. In the facts of the present case, applying the ratio of the decision of the Apex Court in the case of Sanjeev Lal (2014 (7) TMI 99 - SUPREME COURT ), in our opinion, the assessee would be entitled to the benefit of long term capital gain. - Decided in favour of the assessee
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