Period of holding of asset acquired by partner to be reckoned from date of dissolution of firm: ITAT

IT : In absence of a specific provision to effect that period of holding of an asset acquired by a continuing partner on dissolution of firm occasioned by death of a partner, is to be reckoned from date of acquisition of said asset by firm, which is a separate entity under Income Tax Act, 1961, claim of assessee that period of holding of property under consideration was to be date on which it was acquired by firm i.e., 04.05.1984 and not on date when it was acquired by assessee as a continuing p

from www.taxmann.com Latest Case Laws https://ift.tt/2xNhSsf