Date of holding property to be taken from date on which leave-cum-sale agreement holder paid entire consideration

IT: Where assessee under a lease-cum-sale agreement, had paid entire consideration for site originally allotted to it in 2001, date of possession of property by assessee as lessee cum agreement holder with right to obtain conveyance of absolute interest over land that was leased, had to be accepted as date of holding of property and not date on which absolute conveyance was made to assessee

from www.taxmann.com Latest Case Laws http://bit.ly/2GHhm1w