For 2(42A) calculation of 12m /36m ,” more then 12m/36m immediately preceeding date of transfer , date of transfer to be excluded. Month = calendar Month as defined in Gen Clauses Act 1897. If asset acquired on 2nd Jan period of 12m to expire on 1st Jan . Hence if asset sold on 2nd jan it is LTCA Bharti Ramola Gupta(Del HC)72 DTR 387