Section 54 : Allotment date is Relevant to Compute Holding Period

Sandeep Tiwari Vs I.T.O (ITAT Delhi)

In this case There is no dispute that on 31.5.2002, the said plot was allotted to the assessee. It is also not in the dispute that the certificate of possession was given on 08.05.2006. In our considered view, the date of allotment is relevant for the purpose of computing holding period and not the date of registration of conveyance deed as held by the Hon’ble Jurisdictional High Court of Delhi in the case of K. Ramakrishnan 48 com 55

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