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2017 (9) TMI 720 - ITAT MUMBAISTCG on sale of two residential flats - character of capital assets transferred - period of holding - claiming indexation for computing long term capital gain - Held that:- The tile, interest and rights in the flats is created wherein specific flat was earmarked and allotted by the builder in favour of the assessee in September 2005, hence, the period of holding in these case W.r. t. flats being held by the assessee for more than three years before the same were sold by the assessee in October/December, 2009. The claim of the assessee hereby allowed by us by holding that the assessee transferred long term capital asset being flats on October/December 2009 which were acquired in September 2005 i.e. period of holding is more than thirty six months in the case of both the flats. We would like to also make it clear that the assessee will be entitled for cost inflation index(CII) based on the actual payments made and date of payment, accordingly CII will be worked out with reference to amount of payment and date of payment, on progressive payments. We order accordingly.
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