2019 (4) TMI 407

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....R N.K. PRADHAN, AM This is an appeal filed by the Revenue. The relevant assessment year is 2014-15. The appeal is directed against the order of the Commissioner of Income Tax (Appeals)-57, Mumbai [in short 'CIT(A)'] and arises out of the assessment completed u/s 143(3) of the Income Tax Act 1961, (the 'Act'). 2. The ground of appeal filed by the Revenue reads as under: Whether on the facts and ....

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....7.10.1970 which was inherited by the assessee and his sister after the death of their parents on 29.03.2009. In the return of income filed for the impugned assessment year, the assessee, relying on the judgment of the Hon'ble Bombay High Court in CIT v. Manjula J. Shah (2012) 204 Taxman 42 (Bom), had claimed indexation benefits on the long term capital held by him from 01.04.1981 and not from the ....

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....nd supports the order passed by the Ld. CIT(A). 6. We have heard the rival submissions and perused the relevant materials on record. The facts delineated at para 3 hereinbefore are not in dispute. The only question is whether, the benefit of indexation has to be taken from the year in which the asset was first held by previous owner and not from the year in which the asset was held by the assess....