https://www.taxtmi.com/caselaws?id=335812 The Tribunal allowed the appellant's claim for indexation benefits in calculating capital gains from an inherited property, following the Bombay High Court's interpretation that the period of holding by the previous owner should be considered. This decision overturned the Assessing Officer and Commissioner of Income Tax (Appeals) rulings, emphasizing the significance of including the previous owner's holding period for determining long-term capital gains tax liability. The appellant's appeal was successful, with the order in favor of the appellant. en-us Wed, 23 Nov 2016 00:00:00 +0530 Fri, 09 Dec 2016 16:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335812 The Tribunal allowed the appellant's claim for indexation benefits in calculating capital gains from an inherited property, following the Bombay High Court's interpretation that the period of holding by the previous owner should be considered. This decision overturned the Assessing Officer and Commissioner of Income Tax (Appeals) rulings, emphasizing the significance of including the previous owner's holding period for determining long-term capital gains tax liability. The appellant's appeal was successful, with the order in favor of the appellant. Case-Laws Income Tax Wed, 23 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335812