Taxation: Use date of allotment to calculate capital gains

Assessee owns the property from the date of issuance of allotment letter

Capital gains on transfer of property has always been a reason for dispute between taxpayers and authorities. While the Income Tax Act (I-T Act) mentions that the period of holding determines the amount of tax payable, it does not specify from when the period of holding starts. Does it start from the date of allotment or from the day the sale deed is signed or when a property is registered?
 
The starting date for the holding period also continues to be a matter of litigation because of different rulings from high courts and Income Tax (I-T) tribunals. The most