Mr X was alloted a plot in the year 2005 for Rs 1,00,000/-. Later on, from time to time, he paid Rs 12,00,000/- for the plot.
IN 2014, he made the final payment and the registry was done in his name.
In the next month, he sold the plot.
My query is, what will be the year of acquisition of the plot, whether it would be 2005 in which the plot was allotted or the year 2014 in which the resgistry was done.
Kindly advise.
CAclubindia
