SANJAY NANGIA ,GHAZIABAD vs. INCOME TAX OFFICER, GHAZIABAD

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ITA 2315/DEL/2026Status: DisposedITAT Delhi15 July 2026AY 2012-133 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the date of allotment should be considered for calculating the holding period for capital gains, following a CBDT circular. The Assessing Officer was directed to re-compute the capital gains based on the original date of allotment.

What were the facts?

The assessee was assessed for long-term capital gains on the sale of a residential flat, with the period of holding calculated from the date of the registered purchase deed. The assessee contended that the holding period should commence from the date of allotment.

What were the issues?

The primary issue was whether the holding period for calculating capital gains on the sale of a residential flat should be from the date of allotment or the date of the registered purchase deed.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “SMC” NEW DELHI

Before: SH. SATBEER SINGH GODARA

Hearing: 02.06.2026Pronounced: 02.06.2026

This assessee’s appeal for Assessment Year: 2012-13, arises against the Commissioner of Income Tax, Appeal Addl./JCIT(A)-1, Chennai [in short, the Addl./JCIT(A)”], Chennai DIN and Order No. ITBA/APL/S/250/2025- 26/1084516788(1), dated 07.01.2026 involving proceedings under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as the ‘the Act’).

Heard both the parties. Case file perused.

2 I.T.A. No. 2315/Del/2026 2. Coming to the assessee/appellant solitary substantive ground in the instant appeal on perusal of the file indicates that he is aggrieved against both the learned lower authorities’ respective assessment and the lower appellate findings assessing him for having derived long term capital gain on sale/transfer an immovable property i.e. residential flat, not from the date of allotment but from that of the registered purchase deed having corresponding dates i.e., 16.06.2025 and 27.07.2026, respectively.

3.

The Revenue vehement stand in the instant appeal is that the assessee is entitled to be assessed for short term capital gain once the above date of registered of the purchase deed than that of the original allotment of his residential flat. The assessee on the other hand quote the CBDT Circular No. 471 dated 15.10.1986 that is such an instance, the date of allotment itself fulfils of the necessary condition for claiming section 54 deduction as well. I thus adapt the very analogy herein as well direct the Assessing Officer to re-compute the assessee’s capital gains derived from the transfer of the residential flat going of original date of allotment in accordance with law. Ordered accordingly.

4.

This assessee’s appeal is allowed.

Order pronounced in the open court as on 02.06.2026

Sd/- (SATBEER SINGH GODARA) JUDICIAL MEMBER Dated 15th July, 2026 *GP/Sr.PS*

3 I.T.A. No. 2315/Del/2026 Copy of the order forwarded to: (1) Appellant: (2) Respondent: (3) CIT (4) CIT (Appeals) (5) DR, I.T.A.T. Assistant Registrar

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