Held that Letter of allotment was issued by the builder to the assessee on 15th Feb., 2010 by which a right to own the flat as identified by the assessee and builder in the project to be undertaken for construction had accrued on the assessee. The right which accrued to the assessee is the booking right, i.e., the right to purchase the flat and obtain the title. Only that agreement which intends to convey these rights accruing to parties can be considered as the source of accrual of rights to the assessee. Assessee has not defaulted on the terms and conditions of the letter of allotment. She made all the payments as required under the letter of allotment which has been duly acknowledged in the subsequent registration of the agreement to sell. Assessable as long term capital gains. As regards  investment in a residential house which was  wrongly claimed u/s 54, the Matter is  remanded to the Assessing Officer for verification.   (AY. 2016-17)