Case Law Details
Case Name : Vinod Kumar Jain Vs CIT (Punjab & Haryana High Court)
Related Assessment Year :
Courts :
All High Courts Punjab and Haryana HC
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CA Sandeep Kanoi
P&H High Court in a ruling in the case of Vinod Kumar Jain Vs. CIT held that Assessee gets title to the properly on the issuance cf an allotment letter and the payment cf instalments is only a consequential action upon which the delivery of possession flows and in calculation of holding period the period from the date of allotment and upto the date of possession will also be counted.
Brief Facts :- Facts as narrated in the appeal are that the assessee filed its return for the assessment year 1989-90 wherein a note had been given by him that capital gains on account of sa...
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Author Bio
Thank you very much for this article and the following one (Mrs. Madhu Kaul Vs. CIT) on this subject. These are very useful articles. It is nice of you to bring these decided cases to the notice of your readers.