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exemption for capital assets rcvd from partition of huf

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21 September 2010 if a capital asset is obtained in yhe partition of HUF, now is their any time limit for which that asset must not be sold .

& also, is the time perod of holding that asset of HUF is also included while calculating whether it is a short term or long term asset ?
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CA Punit

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CA Punit (Expert)
23 September 2010 nothing requires the asset received on partition to be sold... It can be held for lifetime.
& yes holding period of HUF is to be included in determining ST/LT
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