https://www.taxtmi.com/caselaws?id=434112 The ITAT Mumbai allowed the appeal, directing the AO to treat the property as a long-term capital asset based on the allotment letter as the acquisition date. This decision granted the deduction under Section 54 to the assessee, setting aside the computation issue and emphasizing the importance of the allotment letter in determining the holding period for capital gains tax purposes. en-us Mon, 19 Dec 2022 00:00:00 +0530 Thu, 16 Feb 2023 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434112 The ITAT Mumbai allowed the appeal, directing the AO to treat the property as a long-term capital asset based on the allotment letter as the acquisition date. This decision granted the deduction under Section 54 to the assessee, setting aside the computation issue and emphasizing the importance of the allotment letter in determining the holding period for capital gains tax purposes. Case-Laws Income Tax Mon, 19 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434112