CBDT Circular on Section 2(42a)/(42b) Of The Income-Tax Act, 1961 – Capital Gains Short-Term Capital Assets/Gains – Whether Gains Arising On Exchange Of Gold Bonds At The Time Of Their Redemption Is Short-Term Capital Gain – Whether Answer To The Query Would Depend Upon The Time That Has Passed Between Their Date Of Redemption And Subsequent Sale

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SECTION 2(42A)/(42B) OF THE INCOME-TAX ACT, 1961 – CAPITAL GAINS SHORT-TERM CAPITAL ASSETS/GAINS – WHETHER GAINS ARISING ON EXCHANGE OF GOLD BONDS AT THE TIME OF THEIR REDEMPTION IS SHORT-TERM CAPITAL GAIN – WHETHER ANSWER TO THE QUERY WOULD DEPEND UPON THE TIME THAT HAS PASSED BETWEEN THEIR DATE OF REDEMPTION AND SUBSEQUENT SALE CIRCULAR…

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