Indexed cost of acquisition of gifted assets

CA Prarthana Jalan  Indexed cost of acquisition is to be computed with reference to year in which previous owner first held gifted assets. Hon’ble Delhi ITAT has in the case of DCIT V/s Soni Sonu Mirchandani has held that indexed cost of acquisition  to be computed with reference to the year in which the previous owner first held the gifted assets. Brief facts of the case are that The assessee had shown long term capital gain in her return of income. AO noticed from the computation of capital gain that all the shares of four companies sold by assessee during the year were neither purc...