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Indexation when property is settled through irrecovable deed

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(Querist)
20 October 2014 A property has been actually bought by a person in 1980. He transferred to his son in 2012 by an irrevocable deed of settlement. The property is being sold in 2014 by the son. from when can the son enjoy indexation benefit from 1980 (or) 2012 ?
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Anand

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Anand (Expert)
20 October 2014 From 1981 since it is d base year.. cii for 1981 is 100 and for 13-14 it is 939
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sai krishna

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sai krishna (Querist)
20 October 2014 Thank You Sir. Can i get any section reference for this answer.It will be useful for me

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sai krishna

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sai krishna (Querist)
20 October 2014 Thank You Sir. Can i get any section reference for this answer.It will be useful for me

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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 October 2014 refer https://taxguru.in/income-tax-case-laws/case-gifted-assets-index-year-acquired-previous-owner.html
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Pritesh

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Pritesh (Expert)
23 October 2014 Check sec.2 period of holding for a capital asset
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