9911796707
TMI Blog2016 (8) TMI 1135X X X X Extracts X X X X X X X X Extracts X X X X ..... Court) has held that assessee acquired shares in the co-operative housing society and was allotted the flat on November 15, 1979. Possession of the flat obtained in October, 1981 and sold the same in December, 1982, shares in capital housing society was held for more than 36 months. Accordingly, the capital gain in question was held to be Long Term Capital Gain. Thus in case of CIT Vs. Anilaben Up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal has been filed by assessee against the order of Commissioner of Income-Tax (Appeals)-35, Mumbai, dated 07.08.2012 for A.Y. 2007-08 on following ground: ITA No.6505/Mum/12 A.Y. 2007-08 [Surinder Mohan Khanna v s. ITO] Page 2 The learned CIT(A) has seriously erred in holding that the flat no. A-701, of the assessee in Sheetal Vihar, Dwarka, New Delhi 110075 which was sold on 5th June 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd to flat no.701, of the assessee in Sheetal Vihar, Dwarka, New Delhi which was booked in the year 1986 and was sold on 5th June, 2006. Meanwhile, assessee has discharged his responsibilities by paying entire cost in March, 2006. Now question is whether date of booking will be taking for the purpose of computation of capital gain or date of final payment for the flat in question. We find that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning, we are not inclined to concur with the finding of CIT(A) because date of acquisition of flat in question will be first booking i.e. 1986 and possession of flat will relate back to 1986 for purpose of computation of capital gain. Assessing Officer is directed accordingly. 3. In the result the appeal filed by the assessee is allowed as indicated above. Pronounced in the open Court on thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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