https://www.taxtmi.com/caselaws?id=372989 The court upheld that the cost of acquisition should be based on the cost for which the previous owner acquired the asset, as stated in section 49(1) of the Income-tax Act, 1961. It affirmed that the indexed cost of acquisition should be computed from the year the previous owner held the asset. The court dismissed the appeal, confirming the eligibility for benefits under section 54F as long as the investment is made within the specified period, irrespective of the completion status of the residential property. en-us Tue, 30 Oct 2018 00:00:00 +0530 Fri, 04 Jan 2019 06:41:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372989 The court upheld that the cost of acquisition should be based on the cost for which the previous owner acquired the asset, as stated in section 49(1) of the Income-tax Act, 1961. It affirmed that the indexed cost of acquisition should be computed from the year the previous owner held the asset. The court dismissed the appeal, confirming the eligibility for benefits under section 54F as long as the investment is made within the specified period, irrespective of the completion status of the residential property. Case-Laws Income Tax Tue, 30 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372989