https://www.taxtmi.com/caselaws?id=418330 The court ruled in favor of the petitioner, a property development company, in a case concerning the determination of indexed cost of acquisition for capital gains tax calculation. The court held that indexation should be granted from the year the previous owner first held the asset, aligning with judicial precedents and legislative intent. The court directed the respondent to calculate long-term capital gains and refund the excess tax paid by the petitioner, with interest from the date of payment. The petition was disposed of in favor of the petitioner. en-us Thu, 03 Feb 2022 00:00:00 +0530 Fri, 29 Apr 2022 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418330 The court ruled in favor of the petitioner, a property development company, in a case concerning the determination of indexed cost of acquisition for capital gains tax calculation. The court held that indexation should be granted from the year the previous owner first held the asset, aligning with judicial precedents and legislative intent. The court directed the respondent to calculate long-term capital gains and refund the excess tax paid by the petitioner, with interest from the date of payment. The petition was disposed of in favor of the petitioner. Case-Laws Income Tax Thu, 03 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418330