https://www.taxtmi.com/caselaws?id=252564 The ITAT upheld the CIT(A)'s decision, ruling that the indexed cost of acquisition for long-term capital gains should be computed from the year the previous owners first held the shares, not just from when the assessee received them as gifts. The Tribunal emphasized that "previous owner" includes all prior holders of the asset and that indexation should cover the entire holding period, in line with judicial precedents and CBDT Circulars. The appeal by the Revenue was dismissed, affirming the assessee's approach to calculating the indexed cost of acquisition. en-us Fri, 31 Jan 2014 00:00:00 +0530 Wed, 29 Oct 2014 07:33:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252564 The ITAT upheld the CIT(A)'s decision, ruling that the indexed cost of acquisition for long-term capital gains should be computed from the year the previous owners first held the shares, not just from when the assessee received them as gifts. The Tribunal emphasized that "previous owner" includes all prior holders of the asset and that indexation should cover the entire holding period, in line with judicial precedents and CBDT Circulars. The appeal by the Revenue was dismissed, affirming the assessee's approach to calculating the indexed cost of acquisition. Case-Laws Income Tax Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252564