LTCG Claim Allowed as Allotment Letter Conferred Enforceable Rights in Property: ITAT Mumbai

Maniti Jayesh Shah Vs ITO (ITAT Mumbai) ITAT Treats Property Gain as LTCG Because Holding Period Counted From Allotment Date;  Section 56(2)(x) Addition Sent Back for Verification Because Allotment Date Could Determine Stamp Duty Value;  Additional Evidence Deemed Admitted Because CIT(A) Considered It While Deciding Appeal; From Related-Party Transaction Without Proof of Sham Arrangement, Says ITAT. The appeal arose from an assessment for AY 2018-19 involving the purchase and subsequent sale of an office premises. The assessee had purchased the property from a developer for ₹71,90,000, wh...