https://www.taxtmi.com/caselaws?id=61358 Where title and conveyance in immovable property had not passed to the assessee, transfer of the allotment right was not treated as transfer of the plot for short-term capital gains purposes. The assessee had applied for allotment, paid the initial deposit, and the allotment letter contemplated a future conveyance deed after full payment. As the conveyance deed was never executed in the assessee's favour and was instead executed directly in favour of the purchaser, only the right to acquire the plot was transferred. On those facts, no short-term capital gain arose. en-us Tue, 31 Dec 1985 00:00:00 +0530 Wed, 12 Jan 2011 13:09:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61358 Where title and conveyance in immovable property had not passed to the assessee, transfer of the allotment right was not treated as transfer of the plot for short-term capital gains purposes. The assessee had applied for allotment, paid the initial deposit, and the allotment letter contemplated a future conveyance deed after full payment. As the conveyance deed was never executed in the assessee's favour and was instead executed directly in favour of the purchaser, only the right to acquire the plot was transferred. On those facts, no short-term capital gain arose. Case-Laws Income Tax Tue, 31 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61358