LTCG Benefit Allowed as Ownership Rights Passed Before Registration: ITAT Delhi

ACIT Vs Bina Batlivala (ITAT Delhi) ITAT Holds Property as Long-Term Capital Asset Because Possession and Full Payment Were Completed Earlier; ITAT Deletes Short-Term Capital Gain Addition Because Agreement to Sell Completed Transfer Earlier; Property Sale Treated as Long-Term Capital Gain Because Full Consideration Was Paid in 2013; ITAT Allows Indexation Benefit Because Holding Period Counted From Possession Date. The Income Tax Appellate Tribunal (ITAT) Delhi dismissed the Revenue’s appeal and upheld the order of the CIT(A) treating the property sold by the assessee as a long-term capital...