https://www.taxtmi.com/caselaws?id=339088 For capital gains purposes, the holding period of an office unit is to be computed from the date of allotment letter, not from the later date of registration of the sale agreement or conveyance. The Tribunal treated section 2(42A) as referring to the period the assessee "held" the asset in a practical and enforceable sense, and noted that the allotment letter identified the unit and created enforceable rights on payment toward consideration. On that basis, the office unit qualified as a long-term capital asset and the resulting gain was taxable as long-term capital gain. en-us Mon, 13 Feb 2017 00:00:00 +0530 Tue, 26 Sep 2017 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339088 For capital gains purposes, the holding period of an office unit is to be computed from the date of allotment letter, not from the later date of registration of the sale agreement or conveyance. The Tribunal treated section 2(42A) as referring to the period the assessee "held" the asset in a practical and enforceable sense, and noted that the allotment letter identified the unit and created enforceable rights on payment toward consideration. On that basis, the office unit qualified as a long-term capital asset and the resulting gain was taxable as long-term capital gain. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339088