https://www.taxtmi.com/caselaws?id=385690 Where a property sale deed was registered later because the seller failed to complete performance and possession was delayed beyond the assessee's control, the holding period was reckoned from the earlier registered agreement to purchase. Applying impossibility of performance and lex non cogit ad impossibilia, the transaction was linked back to the agreement date, so the gain was treated as long-term capital gain. The claim for cost of improvement and related expenditure, however, was disallowed for lack of supporting evidence and was remitted for fresh verification and decision by the Assessing Officer. en-us Tue, 03 Sep 2019 00:00:00 +0530 Thu, 12 Sep 2019 09:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385690 Where a property sale deed was registered later because the seller failed to complete performance and possession was delayed beyond the assessee's control, the holding period was reckoned from the earlier registered agreement to purchase. Applying impossibility of performance and lex non cogit ad impossibilia, the transaction was linked back to the agreement date, so the gain was treated as long-term capital gain. The claim for cost of improvement and related expenditure, however, was disallowed for lack of supporting evidence and was remitted for fresh verification and decision by the Assessing Officer. Case-Laws Income Tax Tue, 03 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385690