Mr X have Booked one Flat in year 2000 and recive the allotment letter in the year 2001. Form 2000 to 2005 flat was under construction and during that period Mr X paid full amount of flat. In 2005 Mr X got the possession of flat and sold it in 2007.
Whether it will be long tearm or short tearm capital gain.
Can you help me in providing some judgement to suppert this.
Mr X have Booked one Flat in year 2000 and recive the allotment letter in the year 2001. Form 2000 to 2005 flat was under construction and during that period Mr X paid full amount of flat. In 2005 Mr X got the possession of flat and sold it in 2007.
Whether it will be long tearm or short tearm capital gain.
Can you help me in providing some judgement to support this.
CAclubindia
