https://www.taxtmi.com/caselaws?id=471198 Capital assets received on partition of a Hindu undivided family retain the previous owner's cost of acquisition and qualifying improvement costs for capital-gains computation. As partition distribution is not treated as a transfer, the statutory deeming rule requires the previous owner's period of holding to determine the first year for indexation. Where the Hindu undivided family held the asset before 1 April 1981, indexed cost must use the cost inflation index for 1981-82, rather than the year in which the recipient obtained absolute ownership under the partition decree. This results in capital gains being computed with the 1981-82 base year. en-us Mon, 01 Sep 2014 00:00:00 +0530 Tue, 25 Aug 2026 11:17:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471198 Capital assets received on partition of a Hindu undivided family retain the previous owner's cost of acquisition and qualifying improvement costs for capital-gains computation. As partition distribution is not treated as a transfer, the statutory deeming rule requires the previous owner's period of holding to determine the first year for indexation. Where the Hindu undivided family held the asset before 1 April 1981, indexed cost must use the cost inflation index for 1981-82, rather than the year in which the recipient obtained absolute ownership under the partition decree. This results in capital gains being computed with the 1981-82 base year. Case-Laws Income Tax Mon, 01 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471198