banner_ad

Cost of Indexation for asset acquired under Will

This query is : Resolved 
Profile Image

Profile Image

(Querist)
18 January 2011 Mr.Chakrapani,

Thanks for your reply, but my question was about index cost while calculating capital gain and not acquisition cost.

Whether cost of indexation would be the one for the year in which such asset was transferred to the assessee or the year in which such asset was acquired by the previous owner?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
18 January 2011 For the purpose of indexation the year in which the asset was first held by the assessee ( not the previous owner) is to be considered.

However in the following cases the indexation was allowed from the date of acquisition of the asset by the previous owner following harmoneous principle which is agaist the law viz., explanation (iii) to section 48 of the Income tax Act,1961.
1) Ms. Pushpa Sofat (2002)81 ITD 1 (Chd).
2) Kamal Misra (2008) 19 SOT 251 (Del).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details