https://www.taxtmi.com/caselaws?id=379035 An enforceable right to obtain conveyance under an agreement to sell was treated as a capital asset, so the holding period ran from acquisition of that right rather than from later registration or possession. Substantial payment under the earlier oral agreement, followed by pursuit of specific performance and execution pursuant to a Lok Adalat award, showed that the transfer related back to the earlier year when contractual rights were acquired and substantially performed. On that basis, the gain was treated as long-term capital gain, with indexation allowed from the earlier year of acquisition of rights, and the assessee's claim was accepted. en-us Tue, 23 Apr 2019 00:00:00 +0530 Thu, 25 Apr 2019 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379035 An enforceable right to obtain conveyance under an agreement to sell was treated as a capital asset, so the holding period ran from acquisition of that right rather than from later registration or possession. Substantial payment under the earlier oral agreement, followed by pursuit of specific performance and execution pursuant to a Lok Adalat award, showed that the transfer related back to the earlier year when contractual rights were acquired and substantially performed. On that basis, the gain was treated as long-term capital gain, with indexation allowed from the earlier year of acquisition of rights, and the assessee's claim was accepted. Case-Laws Income Tax Tue, 23 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379035