Period of holding for computing capital gains to be reckoned from date of agreement when rights in flat is sold: ITAT

INCOME-TAX : As per section 2(14) , any kind of property held by an assessee would come within meaning of 'capital asset'. And any right which could be property would be capital asset and incidentally interest in an under construction flat is not one of the exclusions and right or interest in property are kinds of property that are transferable assets and hence booking rights or rights to purchase apartment or right to obtain title to apartment are also capital assets that can be transferable.

from www.taxmann.com Latest Case Laws https://ift.tt/3bnalBD