Inclusion of tenancy period for computing indexed Long Term capital Gain

Jhonson Electric Company Limited Vs ITO (ITAT Surat) Hon’ble Punjab & Haryana High Court in CIT Vs Ved Prakash & sons (HUF) (supra) held from the bare reading of section 2(42A), the word ‘owner’ has by design not been used by the Legislature. The word ‘held’ as per dictionary meaning means to possess, be the owner, holder or tenant of property, stock, land, etc. Thus, a person could be said to be holding the property as an owner, as a lessee, as a mortgagee or on account of part of performance of agreement, etc. Conversely, all such other persons who may be te...