https://www.taxtmi.com/caselaws?id=468844 In allotment-based flat transactions, the date of allotment is treated as the date of acquisition for computing the holding period where substantial consideration has already been paid and the purchaser acquires a right in the property on allotment. Applying that principle, the flat was regarded as a long-term capital asset because the sale occurred after a holding period exceeding 36 months. The claim for exemption under section 54 was required to be examined afresh by the Assessing Officer in light of that long-term characterisation. en-us Tue, 11 Feb 2025 00:00:00 +0530 Fri, 22 May 2026 19:11:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468844 In allotment-based flat transactions, the date of allotment is treated as the date of acquisition for computing the holding period where substantial consideration has already been paid and the purchaser acquires a right in the property on allotment. Applying that principle, the flat was regarded as a long-term capital asset because the sale occurred after a holding period exceeding 36 months. The claim for exemption under section 54 was required to be examined afresh by the Assessing Officer in light of that long-term characterisation. Case-Laws Income Tax Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468844