https://www.taxtmi.com/caselaws?id=253785 The High Court affirmed the Tribunal's decision that the indexed cost of acquisition should be calculated from the date the previous owner acquired the asset. The Court also directed the Assessing Officer to consider the fair market value as of 1st April 1981 for the cost of acquisition. However, the Court upheld the denial of the deduction under Section 54F for the purchase of additional residential units within one year of the original asset transfer. en-us Thu, 28 Aug 2014 00:00:00 +0530 Thu, 04 Dec 2014 06:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253785 The High Court affirmed the Tribunal's decision that the indexed cost of acquisition should be calculated from the date the previous owner acquired the asset. The Court also directed the Assessing Officer to consider the fair market value as of 1st April 1981 for the cost of acquisition. However, the Court upheld the denial of the deduction under Section 54F for the purchase of additional residential units within one year of the original asset transfer. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253785