DT section 54

CA Rakesh Somashekara (...) (45 Points)

20 September 2018  
lock in period for new asset acquired generally 3years , if assessee sells new asset within 3 years what is nature of CG , whether short term or long term?

because Land and building if holding for a period exceeding 24 months is Long term capital asset, what if newly acquired land / building under section 54 sold exceeding 24 months but before 36 months (lock in)