https://www.taxtmi.com/caselaws?id=253712 Property-related rights in an allotted land parcel can constitute a capital asset, and their contribution to a consortium can amount to a transfer under section 2(47)(vi) even without formal conveyance, making capital gains chargeable. For classification, the holding period must be counted from the date the assessee acquired the relevant rights; on that basis, the gain was treated as long-term capital gain rather than short-term capital gain. A mistaken assessment-year reference in the order and demand notice was treated as a curable clerical defect and did not invalidate the assessment. en-us Wed, 26 Nov 2014 00:00:00 +0530 Tue, 02 Dec 2014 09:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253712 Property-related rights in an allotted land parcel can constitute a capital asset, and their contribution to a consortium can amount to a transfer under section 2(47)(vi) even without formal conveyance, making capital gains chargeable. For classification, the holding period must be counted from the date the assessee acquired the relevant rights; on that basis, the gain was treated as long-term capital gain rather than short-term capital gain. A mistaken assessment-year reference in the order and demand notice was treated as a curable clerical defect and did not invalidate the assessment. Case-Laws Income Tax Wed, 26 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253712