Capital Gain

[Reshma kochar]

Dear Experts,

Please share your views in case of Capital Gain whether date of booking or date of possession is taken as date of acquisition??

Please refer some latest case laws too.

Regards,

Reshma

AI Summary

Debate Over Capital Gains Tax: Is Acquisition Date Based on Booking or Possession? Expert Insights and Case Law Sought. A discussion on a forum revolves around the determination of the date of acquisition for capital gains tax purposes, questioning whether it should be the date of booking or possession. An individual queries experts for insights and case law references. An expert responds, stating that possession marks the completion of acquisition, while booking grants contractual rights. The query continues with a reference to a Punjab and Haryana High Court judgment suggesting booking as the acquisition date. The expert requests the full citation, suggesting the judgment might be context-specific, and maintains that possession should be the acquisition date for capital gains purposes.