https://www.taxtmi.com/caselaws?id=792257 Provisional allotment and a mere letter of intent did not create final ownership rights for capital gains purposes where the premises, title documents, and possession were crystallised only later. Because the identity and extent of the flat changed over time and the lease deed was registered, the share certificate and occupancy certificate were issued, and possession was granted only in 2010, the holding period was computed from financial year 2010-11. The property was therefore treated as a short-term capital asset, and the resulting gain was taxable as short-term capital gain. en-us Wed, 29 Apr 2026 00:00:00 +0530 Tue, 26 May 2026 08:24:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792257 Provisional allotment and a mere letter of intent did not create final ownership rights for capital gains purposes where the premises, title documents, and possession were crystallised only later. Because the identity and extent of the flat changed over time and the lease deed was registered, the share certificate and occupancy certificate were issued, and possession was granted only in 2010, the holding period was computed from financial year 2010-11. The property was therefore treated as a short-term capital asset, and the resulting gain was taxable as short-term capital gain. Case-Laws Income Tax Wed, 29 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792257