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

Tax on Inherited Assets: Previous Owner's Holding Period Counts in Calculating Indexed Acquisition Cost.

October 16, 2015

Case Laws Income Tax AT

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

Tax on Inherited Assets: Previous Owner's Holding Period Counts in Calculating Indexed Acquisition Cost.

October 16, 2015

Case Laws Income Tax AT

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