https://www.taxtmi.com/caselaws?id=209393 HC held that for purposes of determining long-term capital gains under Sections 2(14), 2(29A), and 2(42A), the period of holding begins from the date of allotment of the flat, not from the date of possession or assignment of a specific flat number. Relying on CBDT Circular No. 471, the HC ruled that title accrues on issuance of the allotment letter and subsequent instalment payments are only consequential. As the assessee held the allotment/right in the flat for more than 36 months before sale, the gain was a long-term capital gain and eligible for exemption under Section 54. en-us Fri, 24 Sep 2010 00:00:00 +0530 Thu, 20 Nov 2025 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209393 HC held that for purposes of determining long-term capital gains under Sections 2(14), 2(29A), and 2(42A), the period of holding begins from the date of allotment of the flat, not from the date of possession or assignment of a specific flat number. Relying on CBDT Circular No. 471, the HC ruled that title accrues on issuance of the allotment letter and subsequent instalment payments are only consequential. As the assessee held the allotment/right in the flat for more than 36 months before sale, the gain was a long-term capital gain and eligible for exemption under Section 54. Case-Laws Income Tax Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209393