https://www.taxtmi.com/caselaws?id=177529 Possession delivered under an agreement, together with payment of consideration and supporting documents, was treated as effective transfer in part performance for computing the period of holding under the Income-tax Act. The later registered arrangement was regarded as a confirmatory or intermediary step and did not reset the acquisition date. On that basis, the asset was held from 21.07.2004, so the gain on sale in 2007 was long-term rather than short-term. The assessee was therefore entitled to deduction under section 54F, and the interest levy was only consequential. en-us Fri, 21 Mar 2014 00:00:00 +0530 Mon, 11 Jan 2016 23:17:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177529 Possession delivered under an agreement, together with payment of consideration and supporting documents, was treated as effective transfer in part performance for computing the period of holding under the Income-tax Act. The later registered arrangement was regarded as a confirmatory or intermediary step and did not reset the acquisition date. On that basis, the asset was held from 21.07.2004, so the gain on sale in 2007 was long-term rather than short-term. The assessee was therefore entitled to deduction under section 54F, and the interest levy was only consequential. Case-Laws Income Tax Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177529