Capital gain
This query is : Resolved
Anmol Bhandari
(Querist)
10 December 2015
indexation in case of gifted property is considered from the the year in which the assets was first held by the previous owner or the year in which the assets is owned by assesee ?
CA DHEERAJ
(Expert)
10 December 2015
INDEXATION IN CASE OF GIFTED PROPERTY IS CONSIDERED FROM THE YEAR/DATE IN WHICH THE PREVIOUS OWNER ACQUIRED
10 December 2015
The law says date on which the asset is owned by the assessee has to be considered. But ITAT says other wise in Mrs. Pushpa Sofat vs ITO (2004) 89 TTJ (Chd) 499.
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