Capital gain computation - determination of holding period of ...

Capital Asset Holding Period Starts from Allotment Date for Capital Gain, Not Buyer's Agreement, Tribunal Rules.

April 12, 2024

Case Laws Income Tax AT

Capital gain computation - determination of holding period of asset - The dispute centered around whether the holding period of a capital asset should be computed from the date of allotment of a flat or the date of the buyer's agreement - Relying on relevant judicial precedents and CBDT circulars, the tribunal concluded that the date of allotment should be considered as the date of acquisition for computing capital gains tax. As a result, it allowed the long-term capital loss as reported by the assessee.

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Capital gain computation - determination of holding period of ...

Capital Asset Holding Period Starts from Allotment Date for Capital Gain, Not Buyer's Agreement, Tribunal Rules.

April 12, 2024

Case Laws Income Tax AT

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