https://www.taxtmi.com/caselaws?id=337479 The Tribunal classified the capital gains from the sale of a flat as Long Term Capital Gains (LTCG) based on the date of allotment, allowing the assessee an exemption under section 54 for the investment in a new flat. The Tribunal upheld the Assessing Officer's computation of the exemption amount and did not delve into indexed cost and other deductions. The initiation of penalty proceedings was not extensively discussed. The decision was in favor of the assessee, pronounced on 4th November 2016. en-us Fri, 04 Nov 2016 00:00:00 +0530 Tue, 10 Jan 2017 07:25:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337479 The Tribunal classified the capital gains from the sale of a flat as Long Term Capital Gains (LTCG) based on the date of allotment, allowing the assessee an exemption under section 54 for the investment in a new flat. The Tribunal upheld the Assessing Officer's computation of the exemption amount and did not delve into indexed cost and other deductions. The initiation of penalty proceedings was not extensively discussed. The decision was in favor of the assessee, pronounced on 4th November 2016. Case-Laws Income Tax Fri, 04 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337479