Holding Period Starts From Agreement Date, Not Possession: ITAT Mumbai

Braj Kishore Singh Vs Assessing Officer Internatinal Tax (ITAT Mumbai)

ITAT Mumbai Affirms Agreement Date as Start of Holding Period for Capital Gains

In a ruling that reinforces a significant and well-settled legal principle, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, in the case of Braj Kishore Singh Vs Assessing Officer Internatinal Tax, has held that the holding period of a property for the purpose of calculating capital gains commences from the date of the ‘agreement for sale’, not from the subsequent date of possession. This decision pro

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