Whether booking letter date will be date of Purchase of Property?

[Kishore Mehta]

Dear All,

SC dismisses assessee’s SLP against Delhi HC judgement; HC had held that “Booking rights” in flat / apartment shall be treated as acquired upon execution of buyer’s agreement with builder and not on the date of 'booking confirmation letter' for provisional allotment of flat; HC had noted that Booking confirmation letter specifically stated that no right to provisional / final allotment accrued till buyer’s agreement was signed, hence no right to claim title / ownership resulted from confirmation itself; As the period from execution of 'buyer’s agreement' was for less than 36 months, HC had rejected assessee’s stand that income from transfer of booking rights in flat taxable as long term capital gain; Dismissing SLP, SC holds that “We do not find any legal and valid ground for interference”  : SC