https://www.taxtmi.com/caselaws?id=181381 For section 2(42A) purposes, the holding period of flats acquired under a hire purchase arrangement is counted from the date possession is handed over, not from the later date of execution or registration of the conveyance deed. Where the agreement confers possession and contemplates transfer of ownership on payment of dues, the arrangement operates as a transfer in part performance under section 53A of the Transfer of Property Act and within section 2(47) of the Income-tax Act. On that basis, the flats were treated as long-term capital assets, and the surplus on sale was assessable as long-term capital gain; the short-term capital gain addition was unsustainable. en-us Tue, 28 Feb 2006 00:00:00 +0530 Thu, 29 Dec 2016 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181381 For section 2(42A) purposes, the holding period of flats acquired under a hire purchase arrangement is counted from the date possession is handed over, not from the later date of execution or registration of the conveyance deed. Where the agreement confers possession and contemplates transfer of ownership on payment of dues, the arrangement operates as a transfer in part performance under section 53A of the Transfer of Property Act and within section 2(47) of the Income-tax Act. On that basis, the flats were treated as long-term capital assets, and the surplus on sale was assessable as long-term capital gain; the short-term capital gain addition was unsustainable. Case-Laws Income Tax Tue, 28 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181381