https://www.taxtmi.com/caselaws?id=784654 For computation of LTCG on transfer of inherited immovable property, the dominant issue was the correct base year and Cost Inflation Index (CII) for indexing the FMV as on 01-04-1981. The tribunal held that, since the property was admittedly inherited in 1981, indexation must start from 01-04-1981 with CII 100, and there was no legal basis to adopt CII 172 with reference to an aborted agreement of FY 1989-90; accordingly, the AO was directed to recompute LTCG using stamp duty valuation as consideration, FMV at ?17.50 per sq. mtr as on 01-04-1981, proportionate share, and allow relief for eligible investment in jointly purchased new property. en-us Fri, 21 Nov 2025 00:00:00 +0530 Fri, 09 Jan 2026 08:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784654 For computation of LTCG on transfer of inherited immovable property, the dominant issue was the correct base year and Cost Inflation Index (CII) for indexing the FMV as on 01-04-1981. The tribunal held that, since the property was admittedly inherited in 1981, indexation must start from 01-04-1981 with CII 100, and there was no legal basis to adopt CII 172 with reference to an aborted agreement of FY 1989-90; accordingly, the AO was directed to recompute LTCG using stamp duty valuation as consideration, FMV at ?17.50 per sq. mtr as on 01-04-1981, proportionate share, and allow relief for eligible investment in jointly purchased new property. Case-Laws Income Tax Fri, 21 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784654