INCOME TAX: Where assessee sold a residential house acquired by it from her grandmother in 2008 through a registered gift deed, computation of indexation cost of acquisition of property in question so as to compute capital gains arose to assessee on its sale was to be computed by taking year of acquisition as 1988 i.e when property was acquired by previous owner (grandmother of assessee) and not from year when property was gifted to assessee i.e. 2008INCOME TAX: Where assessee sold a residential house acquired by it from her grandmother in 2008 through a registered gift deed, computation of indexation cost of acquisition of property in question so as to compute capital gains arose to assessee on its sale was to be computed by taking year of acquisition as 1988 i.e when property was acquired by previous owner (grandmother of assessee) and not from year when property was gifted to assessee i.e. 2008www.taxmann.com Latest Case LawsRead More
