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2016 (5) TMI 1033 - AT - Income TaxGain arising from transfer of flat in National Co-operative Group Housing Society as Short term or long term in nature - Held that:- Since the assessee has acquired the right in the flat from the date of allotment of share certificate in his favour, the capital gain accrued to the assessee is in the nature of long term capital gain, whereas computation of the same varies on account of payments made by the assessee on different dates towards acquisition of the flat. Accordingly, we set aside the order of the CIT(Appeals) and restore the matter to the Assessing Officer with a direction to recompute the long term capital gain as per law. - Decided in favour of assessee for statistical purposes.
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