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2012 (11) TMI 1101 - AT - Income TaxCapital gains - Long Term or Short Term - Date of Acquisition to be computed from date of allotment or date of possession of flat - Held that:- the “date of allotment” is reckoned as the date for computing the holding period for the purpose of capital gains despite of the fact that the physical possession of the flat was given to the assessee much later - Hon’ble Gujarat High Court judgment in the case of CIT vs. Jindas Panchand Gandhi - Decided in the favor of assessee.
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