https://www.taxtmi.com/caselaws?id=395401 The Tribunal allowed the appeal, recognizing the gains as long term capital gains and granting the associated benefits to the assessee. The decision emphasized the importance of the allotment letter and prompt payment in establishing the nature of capital gains, contrary to the revenue's argument that ownership rights only accrued upon registration. The Tribunal's analysis focused on the period of holding for the capital asset, particularly site no.37, and the impact of the allotment letter on capital asset rights, ultimately ruling in favor of the assessee. en-us Fri, 06 Mar 2020 00:00:00 +0530 Wed, 20 May 2020 09:57:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395401 The Tribunal allowed the appeal, recognizing the gains as long term capital gains and granting the associated benefits to the assessee. The decision emphasized the importance of the allotment letter and prompt payment in establishing the nature of capital gains, contrary to the revenue's argument that ownership rights only accrued upon registration. The Tribunal's analysis focused on the period of holding for the capital asset, particularly site no.37, and the impact of the allotment letter on capital asset rights, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395401