Capital gains: Donor's date of acquisition is relevant for increasing cost of acquisition with cost of inflation index (CII) when done sells the property received in gift- decides Special Bench of ITAT.

Capital gains: Donor's date of acquisition is relevant for increasing cost of acquisition with cost of inflation index (CII) when done sells the property received in gift- decides Special Bench of ITAT. https://www.taxtmi.com/article/detailed?id=560 When a donee subsequently transfers a gifted capital asset, the donor's date and cost of acquisition are to be treated as the donee's for computing indexed cost of acquisition; the Cost Inflation Index applicable to the year the donor acquired the asset must be applied, and the previous owner's holding period and improvements are reflected for indexation purposes under the statutory scheme and Explanation (iii) to Section 48. en-us Sat, 14 Nov 2009 00:00:00 +0530 Sat, 14 Nov 2009 06:04:58 +0530 TaxTMI RSS Generator Capital gains: Donor's date of acquisition is relevant for increasing cost of acquisition with cost of inflation index (CII) when done sells the property received in gift- decides Special Bench of ITAT. https://www.taxtmi.com/article/detailed?id=560 When a donee subsequently transfers a gifted capital asset, the donor's date and cost of acquisition are to be treated as the donee's for computing indexed cost of acquisition; the Cost Inflation Index applicable to the year the donor acquired the asset must be applied, and the previous owner's holding period and improvements are reflected for indexation purposes under the statutory scheme and Explanation (iii) to Section 48. Articles Income Tax Sat, 14 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=560