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2022 (7) TMI 1306 - AT - Income TaxComputation of capital gain u/s 54F - acquisition date of plot/property sold - Assessee claimed that the date of allotment i.e. 30.12.2006 on which date ‘plot buyers agreement dated 30.12.2006 with BPTP Ltd. (the vendor)’ for purchase of the plot/land under consideration was executed, is relevant for consideration as date of acquisition and for the benefit of indexation to claim capital gain or tax u/s 54 and therefore the Assessee is entitled to get benefit of long term capital gain because the Assessee acquired the property under consideration 30.12.2006 and sold the same on 14.10.2015 - HELD THAT:- Considering the peculiar facts and circumstances, we deem it appropriate to set aside the order passed by the ld. Commissioner and to direct the Assessing Officer to recompute the capital gain/loss of the Assessee u/s. 54 of the Act, while considering the date of plot buyer’s agreement dated 31.12.2006 as acquisition date of plot/property sold and for indexation benefit. Ordered accordingly. Assessee appeal stands allowed.
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