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2013 (5) TMI 102 - AT - Income TaxCapital gain – benefit of indexation - asset transferred as gift - Benefit of deduction claimed on account of indexed cost of acquisition while computing the long term capital gain. - According to the AO, the assessee had received the property after the death of her father in the financial year 2001-02 and since she was possessing/owning the said property only from that year, the indexation was to be allowed only from the financial year 2001-02. Held that - Respectfully following the decision of Bombay High Court DCIT vs. Manjula J. Shah reported in [2011 (10) TMI 406] (Mumbai) we uphold the impugned order of the learned CIT(Appeals) giving relief to the assessee on this issue and dismiss the appeal filed by the Revenue.
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