Capital Gain on House Property
This query is : Resolved
Sagar Kulkarni
(Querist)
26 January 2011
What can be taken as the effective date for starting the calculation of holding period of a House Property- the date of registration of agreement or the date of possession or the date of last payment instalment?
26 January 2011
The date of agreement of purchase of property is the date from which period of holding should be counted. The court has regarded right to purchase the property as a capital asset and held that the date when the agreement to purchase was made is the date from when the period of holding the asset should be counted and not from the date of possession.
Citation :- Jitendra Mohan Vs. ITO [2007] 11 SOT 594 (Delhi).
Citation :- Jitendra Mohan Vs. ITO [2007] 11 SOT 594 (Delhi).
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CA. Praveen Narayan
(Expert)
26 January 2011
Thank you Chackrapani Sir..
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