Capital gains: Donor’s date of acquisition is relevant for inflating cost of acquisition and cost of improvement with cost of inflation index (CII) for computing capital gains on sale by donee- authors views find support from Bombay and Delhi High Courts.

Capital gains: Donor’s date of acquisition is relevant for inflating cost of acquisition and cost of improvement with cost of inflation index (CII) for computing capital gains on sale by donee- authors views find support from Bombay and Delhi High Courts. https://www.taxtmi.com/article/detailed?id=1611 Where a capital asset is received by gift or similar non taxable transfer and the law treats the previous owner's cost and holding period as the recipient's, the date of acquisition by the previous owner is the operative date for computing the indexed cost of acquisition and indexed cost of improvement using the Cost Inflation Index, in order to avoid anomalous outcomes and to effect the legislative aim of neutralising inflation in capital gains computation. en-us Tue, 28 Feb 2012 09:13:39 +0530 Tue, 28 Feb 2012 09:13:39 +0530 TaxTMI RSS Generator Capital gains: Donor’s date of acquisition is relevant for inflating cost of acquisition and cost of improvement with cost of inflation index (CII) for computing capital gains on sale by donee- authors views find support from Bombay and Delhi High Courts. https://www.taxtmi.com/article/detailed?id=1611 Where a capital asset is received by gift or similar non taxable transfer and the law treats the previous owner's cost and holding period as the recipient's, the date of acquisition by the previous owner is the operative date for computing the indexed cost of acquisition and indexed cost of improvement using the Cost Inflation Index, in order to avoid anomalous outcomes and to effect the legislative aim of neutralising inflation in capital gains computation. Articles Income Tax Tue, 28 Feb 2012 09:13:39 +0530 https://www.taxtmi.com/article/detailed?id=1611