https://www.taxtmi.com/caselaws?id=271641 The Tribunal upheld the CIT(A)'s decision, treating the property sale as Long Term Capital Gains (LTCG) and granting exemption under section 54F of the Income Tax Act. It emphasized the importance of considering the date of allotment for calculating the holding period, supporting the assessee's position with judicial precedents. The Tribunal dismissed the revenue's appeal for the Assessment Year 2010-11, ruling in favor of the assessee and affirming the correct tax treatment of the transaction. en-us Wed, 13 Jan 2016 00:00:00 +0530 Wed, 10 Feb 2016 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271641 The Tribunal upheld the CIT(A)'s decision, treating the property sale as Long Term Capital Gains (LTCG) and granting exemption under section 54F of the Income Tax Act. It emphasized the importance of considering the date of allotment for calculating the holding period, supporting the assessee's position with judicial precedents. The Tribunal dismissed the revenue's appeal for the Assessment Year 2010-11, ruling in favor of the assessee and affirming the correct tax treatment of the transaction. Case-Laws Income Tax Wed, 13 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271641