Indexed Cost of Acquisition in Gifts or Wills Must Apply Fiction in Explanation 1(i)(b) to Section 2(42A.

Indexed cost of acquisition - capital asset acquired under a gift or will - it is not possible to accept the contention of Revenue that the fiction contained in Explanation 1(i)(b) to section 2(42A) of the Act cannot be applied in determining the indexed cost of acquisition under section 48 - AT .....

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