https://www.taxtmi.com/caselaws?id=394653 For an inherited capital asset, indexation of acquisition cost is linked to the previous owner's original holding period, so the assessee could claim indexation from that earlier date. The appellate view also held that, for the relevant assessment year, section 54 did not impose a territorial requirement that the new residential house be located in India; the later amendment adding such a restriction operated prospectively. On both issues, the revenue's challenge failed and the relief granted to the assessee was sustained. en-us Mon, 10 Feb 2020 00:00:00 +0530 Mon, 20 Apr 2020 12:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394653 For an inherited capital asset, indexation of acquisition cost is linked to the previous owner's original holding period, so the assessee could claim indexation from that earlier date. The appellate view also held that, for the relevant assessment year, section 54 did not impose a territorial requirement that the new residential house be located in India; the later amendment adding such a restriction operated prospectively. On both issues, the revenue's challenge failed and the relief granted to the assessee was sustained. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394653