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Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

If the object of the legislature is to tax the gains arising on ...

Case Laws     Income Tax

October 16, 2015

If the object of the legislature is to tax the gains arising on transfer of a capital asset acquired under a gift or will or inheritance by including the period for which the said asset was held by the previous owner in determining the period for which the said asset was held by the assessee, then that object cannot be defeated by excluding the period for which the said asset was held by the previous owner while determining the indexed cost of acquisition of that asset to the assessee. - AT

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