https://www.taxtmi.com/caselaws?id=329571 The Appellate Tribunal overturned the Commissioner's decision to treat Long Term Capital Gains (LTCG) as Short Term Capital Gains (STCG) in a property sale case. The appellant successfully argued for deductions for LTCG, emphasizing the significance of the allotment letter in determining the holding period. The Tribunal ruled in favor of the appellant, directing the Assessing Officer to consider the allotment letter's date for determining the nature of the gains, thereby reversing the decisions of the lower authorities. en-us Wed, 08 Jun 2016 00:00:00 +0530 Tue, 05 Jul 2016 22:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329571 The Appellate Tribunal overturned the Commissioner's decision to treat Long Term Capital Gains (LTCG) as Short Term Capital Gains (STCG) in a property sale case. The appellant successfully argued for deductions for LTCG, emphasizing the significance of the allotment letter in determining the holding period. The Tribunal ruled in favor of the appellant, directing the Assessing Officer to consider the allotment letter's date for determining the nature of the gains, thereby reversing the decisions of the lower authorities. Case-Laws Income Tax Wed, 08 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329571