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Indexation benefit on asset acquired as gift was available from year in which previous owner held asset: ITAT

August 8, 2018[2018] 96 204 (Mumbai - Trib.)/[2018] 172 ITD 169 (Mumbai - Trib.)

IT : For purpose of computing long-term capital gains in hands of an assessee who has acquired an asset under a gift, indexed cost of acquisition of such capital asset has to be computed with reference to year in which previous owner first held asset

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