1

What would be the period of holding to determine whether the capital gains on renunciation of right to subscribe for additional shares is short term or long term? Held that the period of holding would be from the date on which such right to subscribe for additional shares comes into existence upto the date of renunciation of such right—Navin Jindal (2010) 320 ITR 708 (SC)

2

Whether indexation benefit in respect of gifted property shall apply from the date of gift or from the date in which it was acquired by the previous owner. Held the indexed cost of acquisition in case of gifted asset has to be computed with reference to the year in which the previous owner first acquired the asset. —Manjula J. Shah (2013) 355 ITR 474 ( Bom.)

3

Whether building comprising several floors be available for exemption u/s 54/54F. Held that the fact that the residential house consists of several independent units which can if need arises, be conveniently and independently used as an independent residence, the requirement of the section should be taken to have been satisfied. There's nothing in these sections which requires the residential house to be constructed in a particular manner. The only requirement is that it should be for residential use and not for commercial use.— Gita Dugal (2013) 357 ITR 153 (Delhi)