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2020 (9) TMI 821 - AT - Income TaxComputation of capital gains -Treating ‘Government Securities’ as Bonds or Debentures for the purpose of the third proviso (now fourth proviso) to section 48 - HELD THAT:- Issue decided in favour of assessee as relying on own case [2019 (12) TMI 958 - ITAT KOLKATA]. Appellate forum against the orders of the coordinate bench of this Tribunal - Proposition that, when fixed return is assured on a capital asset, indexation should not be granted, is not correct. Even on buildings or land fixed rental income is earned. Just because there is fixed returning income, it cannot be concluded that on sale of such asset no indexation would be granted of the asset is a long term capital asset. This bench has not been informed as to whether the department has accepted the earlier order of the Tribunal on this issue for A.Y. 2010-11 and A.Y. 2014-15 in and carried the matter in appeal before the Hon’ble High Court in either of the case, we do not see any reason to deviate form, the proposition of law laid down by the coordinate bench of this Tribunal, on the very same issue in the case of the assessee itself, in the earlier assessment years.
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