https://www.taxtmi.com/caselaws?id=377914 Rights in an identified flat acquired on booking or allotment were treated as a capital asset from the booking date, because the later formal agreement only crystallised an existing right; the transfer of those flat rights therefore gave rise to long-term capital gain. For indexed cost, where payments were made in instalments over different years, indexation had to be applied instalment-wise by reference to each actual year of payment rather than using the first booking year for the entire cost. The later-acquired garage was treated as a separate capital asset with its own holding period, so the gain from its transfer was short-term capital gain and required separate computation. en-us Tue, 02 Apr 2019 00:00:00 +0530 Fri, 05 Apr 2019 08:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377914 Rights in an identified flat acquired on booking or allotment were treated as a capital asset from the booking date, because the later formal agreement only crystallised an existing right; the transfer of those flat rights therefore gave rise to long-term capital gain. For indexed cost, where payments were made in instalments over different years, indexation had to be applied instalment-wise by reference to each actual year of payment rather than using the first booking year for the entire cost. The later-acquired garage was treated as a separate capital asset with its own holding period, so the gain from its transfer was short-term capital gain and required separate computation. Case-Laws Income Tax Tue, 02 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377914