https://www.taxtmi.com/caselaws?id=259635 For transfer of allotted leasehold rights, the date of allotment is treated as the date of acquisition where it creates an enforceable right to receive the plots, and the resulting gain is long-term if the holding period is satisfied. The actual amount paid to obtain the leasehold rights is accepted as the cost of acquisition where it is ascertainable, without substituting a notional value. Section 50C does not apply to transfer of leasehold rights in land, so stamp duty value cannot replace the stated consideration. The co-ownership allocation issue was sent back for fresh verification of the affidavit and consideration-sharing records. en-us Wed, 22 Apr 2015 00:00:00 +0530 Mon, 08 Aug 2022 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259635 For transfer of allotted leasehold rights, the date of allotment is treated as the date of acquisition where it creates an enforceable right to receive the plots, and the resulting gain is long-term if the holding period is satisfied. The actual amount paid to obtain the leasehold rights is accepted as the cost of acquisition where it is ascertainable, without substituting a notional value. Section 50C does not apply to transfer of leasehold rights in land, so stamp duty value cannot replace the stated consideration. The co-ownership allocation issue was sent back for fresh verification of the affidavit and consideration-sharing records. Case-Laws Income Tax Wed, 22 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259635