Allottee gets title to property on issuance of allotment letter

Advertisement 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...