https://www.taxtmi.com/caselaws?id=11880 For capital gains purposes, the holding period of a flat allotted by a co-operative housing society is counted from the date the assessee acquires the society shares and allotment rights, not from the date of physical possession. The member's ownership is derived from allotment under the society's housing scheme, and actual possession is not the decisive basis of ownership. The later insertion of clause (iiia) in section 27 is consistent with this approach and does not require possession to be treated as the starting point for ownership before 1 April 1988. Accordingly, the gain on transfer qualifies as long-term capital gain, with the related section 80T benefit available. en-us Wed, 17 Oct 2001 00:00:00 +0530 Mon, 22 Dec 2025 21:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11880 For capital gains purposes, the holding period of a flat allotted by a co-operative housing society is counted from the date the assessee acquires the society shares and allotment rights, not from the date of physical possession. The member's ownership is derived from allotment under the society's housing scheme, and actual possession is not the decisive basis of ownership. The later insertion of clause (iiia) in section 27 is consistent with this approach and does not require possession to be treated as the starting point for ownership before 1 April 1988. Accordingly, the gain on transfer qualifies as long-term capital gain, with the related section 80T benefit available. Case-Laws Income Tax Wed, 17 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11880