https://www.taxtmi.com/caselaws?id=433224 The Tribunal partially allowed the Assessee's appeal regarding the indexation of cost of improvement and acquisition for inherited property, directing the AO to allow indexation based on the year of acquisition by the previous owner or the year of inheritance. The Tribunal emphasized the importance of proper verification of evidence and adherence to legal principles in determining the cost of improvement and acquisition for tax purposes in cases of inherited property. The Revenue's appeal was allowed for statistical purposes. en-us Fri, 20 Jan 2023 00:00:00 +0530 Tue, 24 Jan 2023 10:12:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433224 The Tribunal partially allowed the Assessee's appeal regarding the indexation of cost of improvement and acquisition for inherited property, directing the AO to allow indexation based on the year of acquisition by the previous owner or the year of inheritance. The Tribunal emphasized the importance of proper verification of evidence and adherence to legal principles in determining the cost of improvement and acquisition for tax purposes in cases of inherited property. The Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433224