Capital Gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2011 Mr.A Purchased flat from builder and possession of the same is delivered after 4 years . For the long term point of view, Purchase of flat shall be from the date of booking or from the date of Possession.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

08 February 2011 From the date of booking he has just given advance to the builder. When Mr. A acquired the flat ?
On the date of Possession.

Guest

Guest (Expert)

08 February 2011 From the date of possession.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Shiv

CA Shiv (Expert)
Follow

08 February 2011 yA FROM DATE OF POSSESSION...

@ CA Moondra Sir: Do you have any case law regarding this. CAuse its a big dispute and no where i found out in written.

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2011 if you say from the date of possession, please quote the section where this is mentioned or quote any case.

Guest

Guest (Expert)

09 February 2011 Date of acquisition generally means date of acquisition. I think it is a settled issue.

CA Shiv

CA Shiv (Expert)
Follow

09 February 2011 Sir, even i am of the same opinion bt had not seen any case law.. so if you are aware can you please quote here....

Guest

Guest (Expert)

10 February 2011 Do you have contary judgement ?