Capital Gains Tax: Inherited Property's Acquisition Cost Based on Ancestor's Original Purchase Price, Not Inheritance Date.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Capital Gain - computation - inheritance - the cost of acquisition must be determined to be the cost at which the respondent's grandfather / father acquired the property and not the date on which the respondent acquired it. - HC....