Section 2(29A), read with section 2(42A), of the Income-tax Act, 1961 - Capital gains

IT : Where assessee had entered into an agreement with builder for purchase of undivided share of land and construction, date of allotment of undivided share in land was to be adopted as date of acquisition for computing capital gain instead of date of sale deed
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[2015] 53 taxmann.com 107 (Madras)
HIGH COURT OF MADRAS
Commissioner of Income-tax, Salary Circle, Chennai
v.
S.R.Jeyashankar*
R. SUDHAKAR AND R. KARUPPIAH, JJ.
TAX CASE (APPEAL) NO. 976 OF 2014†
NOVEMBER  25, 2014
Section 2(29A), read with section 2(42A), of the Income-tax Act, 1961 - Capital gains - Long term capital gains (Land and building) - Assessment year 2009-10 - Whether where assessee had entered into an agreement with builder for purchase of undivided share of land and construction, date of allotment of undivided share in land was to be adopted as date of acquisition for computing capital gain instead of date of sale deed - Held, yes [Para 10] [In favour of assessee]
Circulars and Notifications : Circular No. 471 dated 15-10-1986