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Holding Period for LTCG: Allotment Date Vs. Date of execution of agreement
Case Law Details
- Case Name
- ACIT Vs Ms. Shradha Sudhir Valia (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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ACIT Vs Ms. Shradha Sudhir Valia (ITAT Mumbai)
Holding period for computation of LTCG to be reckoned from the date of allotment of flat not from the sate of execution of agreement.
Conclusion:
Where allotment as well as execution of the agreement did not vest two different capital assets in the hands of the assessee which got exchanged with each other upon execution of the agreement rather the event of allotment as well as execution of agreement was part & parcel of the same transaction and only an improvement in ownership rights held by assessee in the flat, therefore,period of holding h...
