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2019 (3) TMI 375 - AT - Income TaxSelf occupied house property - treatment of USA properties occupied by the daughter of assessee- deemed let out - deemed value of consideration for the purpose of computing income from house property - change of method of computation of income from self occupied house property - Held that:- Considering the factual and the legal discussions appeal is restored to the file of assessing officer to treat the USA property as deemed let out and determine the ALV of the said property. Relied on SMT. ASHA BHOSLE [2011 (9) TMI 1179 - ITAT MUMBAI] and Balmukund Acharya vs. DCIT reported in [2008 (12) TMI 88 - BOMBAY HIGH COURT] Long term capital loss on sale of property - asset was hold for more than 36 months - period of holing - absolute legal right ownership - HELD THAT:- In the light of expanded definition is contained in section 2(47) even when a sale, exchange, or relinquishment or extinguishment of any right, under a transaction the assessee is put in possession of an immovable property or retained the same in part performance of contract under section 53A of Transfer of Property Act, it amounts to transfer. No registered deed of sale is required to constitute a transfer. In CIT Vs K Ramakrishanan [2014 (3) TMI 812 - DELHI HIGH COURT] held that in order to determine taxability of capital gain arising from the sale of property, it is the date of allotment of property which is relevant for the purpose of computing holding period and not the date of registration of conveyance deed. No illegality and infirmity in the order passed the ld Commissioner (Appeals), which we affirms.
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