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2014 (1) TMI 434 - AT - Income TaxBenefit of indexation – To be given from the dates of payment of instalments or from the date of possession - Held that:- To constitute a capital asset the assessee must not be the owner by way of a conveyance deed in respect of that asset for the purpose of computing capital gain - The assessee had acquired a right to get a particular flat from the builder and that right of the assessee itself is a capital asset - By making the payment to the builder and having received allotment letter, the assessee will be holding capital asset - The benefit of indexation has to be granted to the assessee on the basis of payments made by him for acquiring the said asset– Following Praveen Gupta vs. ACIT [2010 (8) TMI 820 - ITAT DELHI] – Decided in favour of the assessee.
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