https://www.taxtmi.com/caselaws?id=120621 Rights acquired under a flat purchase agreement were treated as a capital asset, and the holding period for indexation under section 48 ran from the agreement date rather than the later conveyance registration date. The assessee was therefore entitled to indexed cost from 7-8-1993 for long-term capital gains computation. Revisional action under section 263 was not sustainable where the Assessing Officer had examined the relevant material and adopted a plausible view; a revision cannot rest only on the Commissioner's different opinion or the absence of detailed discussion in the assessment order. en-us Fri, 08 Feb 2008 00:00:00 +0530 Wed, 17 Jan 2024 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120621 Rights acquired under a flat purchase agreement were treated as a capital asset, and the holding period for indexation under section 48 ran from the agreement date rather than the later conveyance registration date. The assessee was therefore entitled to indexed cost from 7-8-1993 for long-term capital gains computation. Revisional action under section 263 was not sustainable where the Assessing Officer had examined the relevant material and adopted a plausible view; a revision cannot rest only on the Commissioner's different opinion or the absence of detailed discussion in the assessment order. Case-Laws Income Tax Fri, 08 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120621