Revenue cannot treat LTCG as STCG on the ground that assessee deliberately waited for lapse of 36 months

Micheal Jude Fernandes Vs. ACIT (ITAT Mumbai) Revenue has not disputed the date of execution of agreement to sale dated 16-11-2006, executed by builder in favor of the assessee. The revenue has two fold objections. Number one that the assessee acquired the right in the property only on registration of the agreement on 6-10-2007 and not on 16-11-2006. Secondly, while executing the agreement to sale in favor of buyer, the assessee has intentionally waited till 18-11-2009, though the stamp duty was paid on 6-11-2009. The learned Commissioner (Appeals) also concluded that assessee has intentionall...