03 November 2011
Purchase of property is to be analysed further: whether plot or flat/building? whether booking, allotment, loaning, possession, registration aspects involoved or not, if so the occurance of each event to determine exactly LTCG or STCG. Reference is cited to Sec.53A and 54 of the transfer of Property Act, Sec2(14) of IT Act. Further references may be had with legal cases determined to clarify the nature of transfer/sale of the property. Please mention full facts of the case.
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