TaxTMI 
TaxTMI 
respected sir, my client got allotted flat in his name in the year 2019 by paying Rs-100 to xyz. registered sale deed was not executed in favor of client by xyz. later in the year 2023 my client sold the same flat to abc for Rs-150, without executing sale deed. the said transaction has been done with the consent of xyz,by transferring the allotment of flat to abc. my question-can this transaction be related to capital gain or income from other sourced or banami transaction.
regarding transfer of allotment of immovable property
03 Feb 2023 
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Capital gains treatment where allotment confers title: allotment date determines acquisition and gain character.
Where an allottee obtains an allotment letter under a self financing allotment scheme and the allotment is final, the allottee is treated as acquiring title on issuance of the allotment; thus the date of allotment is the date of acquisition for capital gains purposes and transfer of the allotment has been treated as taxable capital gains, including as long term capital gains if the holding period is satisfied, notwithstanding non execution of a registered sale deed. (AI Summary)
Where an allottee obtains an allotment letter under a self financing allotment scheme and the allotment is final, the allottee is treated as acquiring title on issuance of the allotment; thus the date of allotment is the date of acquisition for capital gains purposes and transfer of the allotment has been treated as taxable capital gains, including as long term capital gains if the holding period is satisfied, notwithstanding non execution of a registered sale deed. (AI Summary)