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Case Law Details

Case Name : ITO Vs Smt. Tripta Shahani (ITAT Lucknow)
Related Assessment Year :
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Objection of the Assessing Officer is that the assessee has earned Rs.40 lac on transfer of flat No. SV­1-06-SF on 11/10/2005 which was allotted to assessee after cancelling allotment of flat No. C-3GF on 24/01/2004 and therefore, the assessee has held the property in question for less than three years and therefore, the gain is not long term capital gain. In this regard, we are of the considered opinion that when the flat No. SV-1-06-SF was allotted to the assessee in continuation of old flat No. C-3GF, allotted to him on 13/08/2001, the date of acquisition of

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