pls help sir-short-term /capital gain

This query is : Resolved 

09 December 2009 An assessee booked a flat on 01.01.06. The assessee got possession of the flat on 01.04.09. The asseessee sold the flat on 01.08.09. Whether profit on sale of flat will be treated as long-term capital gain or short-term capital gain?

Pls mail the relevant material in support of ur reply

09 December 2009 Short term capital gain as upto 01-04-09 the asset is as an advance (current asset) not a fixed asset

21 July 2010 Agreed.

For acquisition of an immovable property, relevant date to be considered is date of possession and not payment.




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