'A' acquired shares in 2009 as his share in his late father's holding.
He transferred these shares to his HuF in the year 2022.
Huf sold these shares immediately to meet urgent contengencies.
Will huf get benefits of indexation? TIA
naval rungta (88 Points)
15 April 2024
Nikhil Kaushik
(Fellow CA)
(85427 Points)
Replied 16 April 2024
this is a litigated matter. Various case laws in favor of the assessee wherein the issue cost of acquisition as well as indexation has been ruled in favor of the assessee. However, there are a few case laws where in things went against the assesee. So, if your return is picked up for scrutiny, there are chances of disallowance at AO and CIT(A) level. You may get ultimate relief from ITAT though.
CA Raj Doshi
(Practising CA)
(8820 Points)
Replied 18 April 2024
CAclubindia
