cost of acquisition for capital gain purpose

dear friend stamp value taken at the time of purchase can not be claim as cost of aquisition at the time of sale.cost of aquisition will be rs.35 lacs. calculate it after indexation.

regards

tarun rustagi

He is right.

send any case law

While computing the capital gains, the assessee is concerned with the cost of acquisition, that is, the price which was paid by the assessee for acquiring the capital asset on the date it was acquired, subject to such adjustments as laid down under section 55. The assessee has no concern with what would be the value of that asset on some subsequent occasion; in other words, subsequWhile computing the capital gains, the assessee is concerned with the cost of acquisition, that is, the price which was paid by the assessee for acquiring the capital asset on the date it was acquired, subject to such adjustments as laid down under section 55. The assessee has no concern with what would be the value of that asset on some subsequent occasion; in other words, subsequent events need not be taken into consideration - CIT v. Steel Group Ltd. [1981] 131 ITR 234 (Cal.). ent events need not be taken into consideration - CIT v. Steel Group Ltd. [1981] 131 ITR 234 (Cal.).

While computing the capital gains, the assessee is concerned with the cost of acquisition, that is, the price which was paid by the assessee for acquiring the capital asset on the date it was acquired, subject to such adjustments as laid down under section 55. The assessee has no concern with what would be the value of that asset on some subsequent occasion; in other words, subsequent events need not be taken into consideration - CIT v. Steel Group Ltd. [1981] 131 ITR 234 (Cal.).