https://www.taxtmi.com/highlights?id=77452 LTCG - deduction u/s 54 new residential premises - Relevance of date of possession or date of agreement - Regarding the determination of the date of acquisition for the new property, the Tribunal emphasized that the essence of the transaction should be considered. It noted that the appellants had acquired the right to purchase the property through an agreement while it was still under construction. Therefore, the Tribunal concluded that the date of possession, when the property became inhabitable, should be considered as the date of acquisition. en-us Wed, 15 May 2024 17:17:50 +0530 Wed, 15 May 2024 17:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77452 LTCG - deduction u/s 54 new residential premises - Relevance of date of possession or date of agreement - Regarding the determination of the date of acquisition for the new property, the Tribunal emphasized that the essence of the transaction should be considered. It noted that the appellants had acquired the right to purchase the property through an agreement while it was still under construction. Therefore, the Tribunal concluded that the date of possession, when the property became inhabitable, should be considered as the date of acquisition. Highlights Income Tax Wed, 15 May 2024 17:17:50 +0530 https://www.taxtmi.com/highlights?id=77452