Friday, 8 January 2016

Holding period of property isn't reckoned from date of registration of GPA if possession has already

IT: Where assessee had acquired substantial domain over ownership of property since 2004, however there being a dispute could get it registered in its favour only in 2007; having held property for more than 36 months it will be entitled for deduction under section 54F on sale of property as claimed by it

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