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2021 (7) TMI 224 - HC - Income TaxLTCG v/s STCG - profits arising from the sale of shares - Period of holding of shares - Whether Tribunal was right in holding that bonus units of Chola Freedom STF Units is to be treated as long term capital gains since the holding period is more than 12 months? - HELD THAT:- The Tribunal found that there is nothing on record to show that the assessee was maintaining separate books of account for trading in shares and investment in shares. Further, the bonus units of shares were allotted to the assessee on 26.02.2004 and the same were sold by the assessee on 01.03.2005. Since the holding period is more than 12 months, the Tribunal has rightly come to the conclusion that the same has to be treated as long term capital gains. We do not find any error or irregularity in the findings of the Tribunal.
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