https://www.taxtmi.com/caselaws?id=795520 Redeveloped permanent alternate accommodation is described as a continuation and substitution of the owner's pre-existing proprietary rights rather than a newly created capital asset. The holding period is therefore reckoned from the crystallisation of enforceable redevelopment rights, or from acquisition of the original flat, rather than the later permanent alternate accommodation agreement. On that basis, sale of the redeveloped flat is treated as generating long-term capital gain. Where the gain is invested in another residential house within the prescribed period, indexed cost of acquisition and the residential-house exemptions under Sections 54 and 54F are described as consequentially available. en-us Thu, 16 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795520 Redeveloped permanent alternate accommodation is described as a continuation and substitution of the owner's pre-existing proprietary rights rather than a newly created capital asset. The holding period is therefore reckoned from the crystallisation of enforceable redevelopment rights, or from acquisition of the original flat, rather than the later permanent alternate accommodation agreement. On that basis, sale of the redeveloped flat is treated as generating long-term capital gain. Where the gain is invested in another residential house within the prescribed period, indexed cost of acquisition and the residential-house exemptions under Sections 54 and 54F are described as consequentially available. Case-Laws Income Tax Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795520