https://www.taxtmi.com/caselaws?id=176121 The Tribunal upheld the CIT (A)'s decision in favor of the assessee, determining that the capital gains from the sale of a flat should be treated as Long Term Capital Gains. The dispute revolved around the acquisition date, with the Revenue considering it as Short Term Capital Gains due to a holding period of less than 36 months, while the CIT (A) deemed the possession date as the relevant acquisition date, resulting in a holding period exceeding 36 months. Relying on case law precedent, the Tribunal affirmed that the date of allotment should be considered for calculating the holding period, leading to the classification of gains as Long Term Capital Gains. en-us Wed, 07 Nov 2012 00:00:00 +0530 Sat, 03 Jun 2017 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176121 The Tribunal upheld the CIT (A)'s decision in favor of the assessee, determining that the capital gains from the sale of a flat should be treated as Long Term Capital Gains. The dispute revolved around the acquisition date, with the Revenue considering it as Short Term Capital Gains due to a holding period of less than 36 months, while the CIT (A) deemed the possession date as the relevant acquisition date, resulting in a holding period exceeding 36 months. Relying on case law precedent, the Tribunal affirmed that the date of allotment should be considered for calculating the holding period, leading to the classification of gains as Long Term Capital Gains. Case-Laws Income Tax Wed, 07 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176121