https://www.taxtmi.com/caselaws?id=60972 Transfer of an allottee's right to obtain allotment and conveyance of a plot was treated as transfer of a contractual/accrued right, not transfer of ownership, because the plot had never been conveyed or registered in the assessee's name and the conveyance deed was executed directly in favour of the purchaser. Under the allotment rules, allotment conferred only a right in the applicant, while title passed only on execution and registration of the conveyance. On those facts, the transaction did not generate short-term capital gain in the assessee's hands, and the related addition was unsustainable. en-us Tue, 31 Dec 1985 00:00:00 +0530 Mon, 10 Jan 2011 12:02:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60972 Transfer of an allottee's right to obtain allotment and conveyance of a plot was treated as transfer of a contractual/accrued right, not transfer of ownership, because the plot had never been conveyed or registered in the assessee's name and the conveyance deed was executed directly in favour of the purchaser. Under the allotment rules, allotment conferred only a right in the applicant, while title passed only on execution and registration of the conveyance. On those facts, the transaction did not generate short-term capital gain in the assessee's hands, and the related addition was unsustainable. Case-Laws Income Tax Tue, 31 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60972