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indexation in case of charitable trust for capital gain

This query is : Resolved 
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(Querist)
11 November 2009 Can some body solve my following problem regarding capital gain in case of charitable trust.

Let assume
Sales Value of Assets 100
Less; Expense on sales 0
-----
100
Less Cost of acq. (Indexed cost) 55
-----
Long Term Capital Gain 45
Utilisation of New asset
(New asset purchased-old asset)
50(assumed)-25(assumed before indexation) 25
---------
Long term capital gain 20
--------
My problem is whether in calculation of utilisation OLD ASSET VALUE ALSO BE INDEXED OR NOT. GIVE REPLY WITH PROPER SUPPORTING

IT IS URGENT. WATING FOR REPLY
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CA Balram Sharma

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CA Balram Sharma (Expert)
11 November 2009 yes ,

because the cost of assest is subject to sec 48,

hence index cost wil be consider
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