https://www.taxtmi.com/caselaws?id=368613 Rights arising from a flat allotment letter can constitute a capital asset once enforceable allotment rights are acquired and held for more than 36 months, making their transfer taxable as long-term capital gains. Where the sale consideration is invested in a new residential house, section 54 relief is available against such gains. Admission of additional evidence before the first appellate authority does not violate Rule 46A if the material is sent to the Assessing Officer, examined in remand, and considered with the assessee's rejoinder. en-us Tue, 31 Jul 2018 00:00:00 +0530 Thu, 11 Oct 2018 09:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368613 Rights arising from a flat allotment letter can constitute a capital asset once enforceable allotment rights are acquired and held for more than 36 months, making their transfer taxable as long-term capital gains. Where the sale consideration is invested in a new residential house, section 54 relief is available against such gains. Admission of additional evidence before the first appellate authority does not violate Rule 46A if the material is sent to the Assessing Officer, examined in remand, and considered with the assessee's rejoinder. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368613