https://www.taxtmi.com/caselaws?id=405900 The Tribunal determined that the property sale resulted in a long-term capital gain, rejecting the short-term classification by the Assessing Officer and the CIT(A). Holding period calculation was based on the allotment date, making the gain eligible for indexation benefits from that date. The Tribunal overturned the CIT(A)'s decision, directing the AO to compute the gain as long-term and grant indexation benefits accordingly. The appeal was allowed in favor of the assessee, with the decision announced on 31.03.2021. en-us Wed, 31 Mar 2021 00:00:00 +0530 Thu, 01 Apr 2021 08:46:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405900 The Tribunal determined that the property sale resulted in a long-term capital gain, rejecting the short-term classification by the Assessing Officer and the CIT(A). Holding period calculation was based on the allotment date, making the gain eligible for indexation benefits from that date. The Tribunal overturned the CIT(A)'s decision, directing the AO to compute the gain as long-term and grant indexation benefits accordingly. The appeal was allowed in favor of the assessee, with the decision announced on 31.03.2021. Case-Laws Income Tax Wed, 31 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405900