https://www.taxtmi.com/caselaws?id=355957 The High Court dismissed the Tax Appeal, affirming the approach to calculate the indexed cost of acquisition for capital gains tax based on the cost at which the previous owner acquired the asset. The judgment clarified the interpretation of section 48 Explanation (iii) and emphasized the importance of the deeming fiction in section 49 for determining the cost of acquisition in cases involving gifted assets. en-us Mon, 19 Feb 2018 00:00:00 +0530 Thu, 09 May 2019 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355957 The High Court dismissed the Tax Appeal, affirming the approach to calculate the indexed cost of acquisition for capital gains tax based on the cost at which the previous owner acquired the asset. The judgment clarified the interpretation of section 48 Explanation (iii) and emphasized the importance of the deeming fiction in section 49 for determining the cost of acquisition in cases involving gifted assets. Case-Laws Income Tax Mon, 19 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355957