https://www.taxtmi.com/caselaws?id=255363 The Tribunal upheld the CIT(A)'s order, directing the AO to compute capital gains by applying the indexed cost of acquisition from when the previous owners first held the shares. The Tribunal ruled that "previous owner" includes the original owner, allowing indexation benefits from the date of acquisition by the previous owner. The decision aligned with judicial precedents and the principle that indexation considers the holding period of the asset. The Department's appeal was dismissed, affirming that the indexed cost of acquisition should reflect the previous owners' holding period. en-us Fri, 31 Jan 2014 00:00:00 +0530 Thu, 15 Jan 2015 08:03:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255363 The Tribunal upheld the CIT(A)'s order, directing the AO to compute capital gains by applying the indexed cost of acquisition from when the previous owners first held the shares. The Tribunal ruled that "previous owner" includes the original owner, allowing indexation benefits from the date of acquisition by the previous owner. The decision aligned with judicial precedents and the principle that indexation considers the holding period of the asset. The Department's appeal was dismissed, affirming that the indexed cost of acquisition should reflect the previous owners' holding period. Case-Laws Income Tax Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255363