Cost Inflation Index specified for past financial years to determine indexed cost for capital gains. The Central Government, exercising powers under the Explanation to the Income-tax Act provision on indexed cost, specifies Cost Inflation Index figures for financial years 1981-82 to 1992-93 based on seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees and publishes a table mapping each financial year to its index for use in computing indexed cost of acquisition for capital gains.
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Provisions expressly mentioned in the judgment/order text.
Cost Inflation Index specified for past financial years to determine indexed cost for capital gains.
The Central Government, exercising powers under the Explanation to the Income-tax Act provision on indexed cost, specifies Cost Inflation Index figures for financial years 1981-82 to 1992-93 based on seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees and publishes a table mapping each financial year to its index for use in computing indexed cost of acquisition for capital gains.
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