https://www.taxtmi.com/caselaws?id=346280 Capital gains on sale of an allotted property are to be characterised by reference to the date of allotment, not the later registration of the conveyance deed, where the allottee has acquired enforceable rights and substantially complied with payment obligations. Applying the jurisdictional High Court's principle on beneficial ownership and the relation-back effect of registration, the period of holding was computed from allotment. The gain was therefore treated as long-term capital gain, and the addition made by assessing it as short-term capital gain was deleted. en-us Thu, 27 Apr 2017 00:00:00 +0530 Thu, 03 Aug 2017 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346280 Capital gains on sale of an allotted property are to be characterised by reference to the date of allotment, not the later registration of the conveyance deed, where the allottee has acquired enforceable rights and substantially complied with payment obligations. Applying the jurisdictional High Court's principle on beneficial ownership and the relation-back effect of registration, the period of holding was computed from allotment. The gain was therefore treated as long-term capital gain, and the addition made by assessing it as short-term capital gain was deleted. Case-Laws Income Tax Thu, 27 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346280