https://www.taxtmi.com/caselaws?id=436212 The Tribunal upheld the classification of the gain from the sale of a residential property as short-term due to the holding period being less than 36 months. The cost of acquisition was determined as Rs. 3,44,000 based on the registered Power of Attorney. Exemption under Section 54 was granted for multiple properties in line with judicial precedents, despite the initial denial by the CIT(A). The appeal was partly allowed, confirming the short-term gain classification and cost of acquisition while allowing exemption for multiple properties. en-us Wed, 05 Apr 2023 00:00:00 +0530 Fri, 07 Apr 2023 08:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436212 The Tribunal upheld the classification of the gain from the sale of a residential property as short-term due to the holding period being less than 36 months. The cost of acquisition was determined as Rs. 3,44,000 based on the registered Power of Attorney. Exemption under Section 54 was granted for multiple properties in line with judicial precedents, despite the initial denial by the CIT(A). The appeal was partly allowed, confirming the short-term gain classification and cost of acquisition while allowing exemption for multiple properties. Case-Laws Income Tax Wed, 05 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436212