Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 478 - ITAT MUMBAIIndexed costs of acquisition - family arrangement - sibling of the assessee relinquished their rights. - CIT(A) held year 1981-82 as base year for A.Y. 2006-07 as against F.Y. 2003-04 determined by the Assessing Officer. - Held that:- The Ld. DR could not place on record any contradictory material in support of his contention that the indexation should be with reference to the financial year in which property devolved on assessee by virtue of family arrangement - No reason to interfere with the order passed by the CIT(A) - the indexed cost of acquisition of such capital asset has to be computed with reference to the year in which the previous owner first held the asset. - Following decision of DCIT vs Manjula Shah [2009 (10) TMI 646 - ITAT MUMBAI] - Decided in favour of Assessee.
|