https://www.taxtmi.com/highlights?id=74356 Capital Gain - property received by way of gift - Cost of acquisition of the asset shall be the cost for which the previous owner of the property acquired it, as increased by the cost of any improvement of the assets incurred or borne by the previous owner or the assessee. Previous owner of the property has been explained in the Explanation. Accordingly, it is clear that the property was originally purchased before 01.04.1981 and the assessee is eligible to get the cost of acquisition of the land as on 01.04.1981 and cost of indexation shall also be considered from 01.04.1981 - AT en-us Wed, 24 Jan 2024 07:56:45 +0530 Wed, 24 Jan 2024 07:56:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74356 Capital Gain - property received by way of gift - Cost of acquisition of the asset shall be the cost for which the previous owner of the property acquired it, as increased by the cost of any improvement of the assets incurred or borne by the previous owner or the assessee. Previous owner of the property has been explained in the Explanation. Accordingly, it is clear that the property was originally purchased before 01.04.1981 and the assessee is eligible to get the cost of acquisition of the land as on 01.04.1981 and cost of indexation shall also be considered from 01.04.1981 - AT Highlights Income Tax Wed, 24 Jan 2024 07:56:45 +0530 https://www.taxtmi.com/highlights?id=74356