https://www.taxtmi.com/caselaws?id=295136 The Tribunal allowed the appeal, directing the Assessing Officer to compute the indexed cost of acquisition from 01.04.1981 instead of the date the asset was transferred to the assessee. The decision aligned with a Bombay High Court judgment, emphasizing that the indexed cost of acquisition should be determined based on when the capital asset was "held by the assessee." This ruling favored the assessee, highlighting the importance of accurate indexation in calculating capital gains. en-us Fri, 15 May 2015 00:00:00 +0530 Thu, 20 May 2021 14:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295136 The Tribunal allowed the appeal, directing the Assessing Officer to compute the indexed cost of acquisition from 01.04.1981 instead of the date the asset was transferred to the assessee. The decision aligned with a Bombay High Court judgment, emphasizing that the indexed cost of acquisition should be determined based on when the capital asset was "held by the assessee." This ruling favored the assessee, highlighting the importance of accurate indexation in calculating capital gains. Case-Laws Income Tax Fri, 15 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295136