https://www.taxtmi.com/article/detailed?id=5829 Improvements do not alter the original date of acquisition of a capital asset; acquisition date remains fixed while cost of improvements is separately recognised and indexed by reference to the year(s) in which improvements were incurred. Conversion of leasehold rights into freehold constitutes an improvement of title-a qualitative change that does not create a new acquisition date-and any cost incurred for conversion is allowable and eligible for cost inflation indexation where the asset qualifies as long-term. en-us Sat, 13 Sep 2014 13:09:16 +0530 Sat, 13 Sep 2014 13:09:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5829 Improvements do not alter the original date of acquisition of a capital asset; acquisition date remains fixed while cost of improvements is separately recognised and indexed by reference to the year(s) in which improvements were incurred. Conversion of leasehold rights into freehold constitutes an improvement of title-a qualitative change that does not create a new acquisition date-and any cost incurred for conversion is allowable and eligible for cost inflation indexation where the asset qualifies as long-term. Articles Income Tax Sat, 13 Sep 2014 13:09:16 +0530 https://www.taxtmi.com/article/detailed?id=5829