Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Transformation <strong>of</strong> an<br />
asset<br />
• Assessee books a flat with DDA/ becomes<br />
member <strong>of</strong> a CGHS in 2001<br />
• Possession <strong>of</strong> the flat is given to the<br />
assessee in 2003<br />
• Flat sold in 2005<br />
• Capital gain; whether long term or short<br />
term<br />
Flat is only an incidental right flowing from the<br />
shareholding in the CGHS<br />
vs Jindas Parchand Gandhi (2005) 279 ITR 552<br />
(Guj)<br />
CIT vs