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

August 9, 2018[2018] 96 204 (Mumbai - Trib.)

IT : While computing capital gains arising on transfer of a capital asset acquired by assessee under a gift or will, indexed cost of acquisition has to be computed with reference to year in which previous owner first held asset and not year in which assessee became owner of asset

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