P.P.Menon v. CIT 2010(Ker.)
One Partner take over land & building of firm on its dissolution. He sold L&B in just 3days.The benefit of including period of holding of previous owner u/s2(42A) read with Sec49(1)(iii)(b) can b availed only if dissolution was bfore 1.4.1987. Thus, in this case it will be STCG/STCL.
One Partner take over land & building of firm on its dissolution. He sold L&B in just 3days.The benefit of including period of holding of previous owner u/s2(42A) read with Sec49(1)(iii)(b) can b availed only if dissolution was bfore 1.4.1987. Thus, in this case it will be STCG/STCL.
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