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2018 (8) TMI 645 - AT - Income TaxLong Term Capital Gains (LTCG) - Benefit of Indexation u/s 48 - indexed cost of acquisition with reference to the year in which the previous owner first held the asset - income earned on sale of share in land - transfer of a capital asset acquired by assessee under a gift or will - Held that:- Since the assessee in the present case is held liable for long term capital gains tax by treating the period for which the capital asset in question was held by the previous owner as the period for which the said asset was held by the assessee, the indexed cost of acquisition has also to be determined on the very same basis. - Decided against the revenue.
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