https://www.taxtmi.com/caselaws?id=244523 The HC held that the allottee obtains title to the property upon issuance of the allotment letter and payment of the initial installment, with subsequent payments and possession delivery being consequential. The flat allotted on 07.06.1986 conferred a right to hold the capital asset despite possession occurring later. The provisions of Sections 2(14), 2(29A), and 2(42A) cover such cases. The ITAT erred in denying long-term capital gain treatment. The court ruled in favor of the assessee, recognizing the transaction as eligible for LTCG. en-us Fri, 17 Jan 2014 00:00:00 +0530 Tue, 29 Jul 2025 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244523 The HC held that the allottee obtains title to the property upon issuance of the allotment letter and payment of the initial installment, with subsequent payments and possession delivery being consequential. The flat allotted on 07.06.1986 conferred a right to hold the capital asset despite possession occurring later. The provisions of Sections 2(14), 2(29A), and 2(42A) cover such cases. The ITAT erred in denying long-term capital gain treatment. The court ruled in favor of the assessee, recognizing the transaction as eligible for LTCG. Case-Laws Income Tax Fri, 17 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244523