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2019 (12) TMI 911 - AT - Income TaxCapital gain computation - CIT(A) in not considering the date of agreement as the date of purchase for computation of capital gain u/s 48 - HELD THAT:- For the computation of the capital gain arisen out of the aforesaid sale, the assessee has taken the date of purchase of the above property as 31.01.2009 which is the date of agreement to purchase as against the actual date of purchase i.e., 21.03.2013. As find the AO treated the date of purchase of the property as 21.03.2013 and determined the gain arising on sale of the property as short-term capital gain whereas, according to the assessee, the property is a long-term capital asset since the holding period is more than 36 months if the date of agreement to purchase the property is considered as the date of acquisition. In the case of Nilam R. Kataria [2019 (6) TMI 1052 - ITAT AHMEDABAD] after considering the various decisions, came to the conclusion that the period of holding of the asset has to be considered from the date of allotment of the property and not from the date of actual registration. We direct the AO to consider the date of agreement to sell as the date of acquisition and accordingly compute the long-term capital gain. The grounds raised by the assessee are accordingly allowed.
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