https://www.taxtmi.com/caselaws?id=122844 The appellant contested the assessment of the sale of an asset as a short-term capital gain instead of a long-term capital gain, arguing that the nature of the asset transferred was certain rights in a flat, not the flat itself. The appellant provided evidence that possession of the flat was received after the sale, supporting the argument that the gain should be treated as a long-term capital gain. The court agreed with the appellant, holding that the gain arising from the transfer should indeed be classified as a long-term capital gain. The appeal was allowed in favor of the assessee. en-us Mon, 23 Jul 2007 00:00:00 +0530 Sat, 18 Aug 2012 15:44:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122844 The appellant contested the assessment of the sale of an asset as a short-term capital gain instead of a long-term capital gain, arguing that the nature of the asset transferred was certain rights in a flat, not the flat itself. The appellant provided evidence that possession of the flat was received after the sale, supporting the argument that the gain should be treated as a long-term capital gain. The court agreed with the appellant, holding that the gain arising from the transfer should indeed be classified as a long-term capital gain. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Mon, 23 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122844