https://www.taxtmi.com/caselaws?id=258165 For property acquired by succession or inheritance, the cost of acquisition follows the cost to the previous owner, and indexation is computed from the year the previous owner first held the asset or 1 April 1981, whichever is later. A subsequent increase in the inheritor's share does not by itself shift the indexation base year to that later event. Accurate capital-gains computation remains subject to verification of the inherited share, dates of devolution and valuation evidence. Where those facts were not fully examined, fresh assessment and de novo adjudication are required before finalising the indexed cost and capital gain. en-us Wed, 25 Mar 2015 00:00:00 +0530 Thu, 04 Feb 2016 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258165 For property acquired by succession or inheritance, the cost of acquisition follows the cost to the previous owner, and indexation is computed from the year the previous owner first held the asset or 1 April 1981, whichever is later. A subsequent increase in the inheritor's share does not by itself shift the indexation base year to that later event. Accurate capital-gains computation remains subject to verification of the inherited share, dates of devolution and valuation evidence. Where those facts were not fully examined, fresh assessment and de novo adjudication are required before finalising the indexed cost and capital gain. Case-Laws Income Tax Wed, 25 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258165