https://www.taxtmi.com/caselaws?id=179649 The court classified the capital gain arising from the sale of a property as a long-term capital gain, based on the assessee's acquisition of possession in 1991 under a lease-cum-sale agreement, despite the formal sale deed being executed in 2002. The court emphasized the significance of possession and enjoyment of property rights over formal registration, applying the amended definition of "transfer" under section 2(47) of the Income Tax Act. The tribunal allowed the appeal by the assessee, directing that the capital gain should be treated as a long-term capital gain due to the property being held for more than 36 months from the date of possession. en-us Fri, 10 Feb 2012 00:00:00 +0530 Mon, 07 Mar 2016 12:08:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179649 The court classified the capital gain arising from the sale of a property as a long-term capital gain, based on the assessee's acquisition of possession in 1991 under a lease-cum-sale agreement, despite the formal sale deed being executed in 2002. The court emphasized the significance of possession and enjoyment of property rights over formal registration, applying the amended definition of "transfer" under section 2(47) of the Income Tax Act. The tribunal allowed the appeal by the assessee, directing that the capital gain should be treated as a long-term capital gain due to the property being held for more than 36 months from the date of possession. Case-Laws Income Tax Fri, 10 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179649