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2022 (12) TMI 642 - AT - Income TaxLong term capital gain computation - date of transfer of ownership agreement - indexation benefit from the fast installment paid towards purchase of flat in pursuance to allotment letter issued by the builder -Whether date of acquisition for capital gain purposes will be the date of the agreement of transfer of ownership between the builder and the buyer and not the date of issue of the allotment letter? - HELD THAT:- The agreement between the assessee and the builder for transfer of ownership rights was excluded on 19.07.2010 whereas, the assessee has claimed the indexation benefit from 2007. The departmental authorities have allowed indexation benefit from the date of transfer of ownership agreement by relying upon a decision of Gulshan Malik [2014 (3) TMI 474 - DELHI HIGH COURT]. The assessee has failed to bring on record any material or legal proposition to controvert the finding of the departmental authorities or to demonstrate inapplicability of the ratio laid down in case of Gulshan Malik vs. CIT (supra). Thus, in absence of any rebuttal by the assessee, we do not find any reason to interfere with the decision of the Ld. Commissioner (Appeals) on the issue. Grounds raised are dismissed.
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