https://www.taxtmi.com/caselaws?id=374196 The appeal challenged the classification of gain from the sale of a capital asset as Long Term Capital Gain, with the main issue being the significance of an allotment letter versus an executed agreement. The Tribunal ruled in favor of the assessee, determining the date of acquisition for capital gain tax purposes as the date of allotment, as clarified by CBDT circulars. Additionally, the assessee was found eligible for exemption under Section 54F after demonstrating the disposal of other residential units. The Income Tax Appeal was dismissed, affirming the assessee's entitlement to exemption and clarifying the date of acquisition for capital gain tax purposes. en-us Tue, 22 Jan 2019 00:00:00 +0530 Thu, 30 Jul 2026 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374196 The appeal challenged the classification of gain from the sale of a capital asset as Long Term Capital Gain, with the main issue being the significance of an allotment letter versus an executed agreement. The Tribunal ruled in favor of the assessee, determining the date of acquisition for capital gain tax purposes as the date of allotment, as clarified by CBDT circulars. Additionally, the assessee was found eligible for exemption under Section 54F after demonstrating the disposal of other residential units. The Income Tax Appeal was dismissed, affirming the assessee's entitlement to exemption and clarifying the date of acquisition for capital gain tax purposes. Case-Laws Income Tax Tue, 22 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374196