https://www.taxtmi.com/caselaws?id=775937 ITAT Mumbai held that the date of accrual of rights in the allotted flat was the date of payment of the earnest money installment, not the date of possession. Following the Bombay HC precedent, the tribunal set aside the STCG determined by the AO and directed the AO to treat the gains as LTCL as claimed by the assessee. The appeal was allowed and tax liability was to be determined accordingly. en-us Wed, 04 Jun 2025 00:00:00 +0530 Sat, 02 Aug 2025 07:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775937 ITAT Mumbai held that the date of accrual of rights in the allotted flat was the date of payment of the earnest money installment, not the date of possession. Following the Bombay HC precedent, the tribunal set aside the STCG determined by the AO and directed the AO to treat the gains as LTCL as claimed by the assessee. The appeal was allowed and tax liability was to be determined accordingly. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775937