Cost of Acquisition & Year of Indexation of Property received on Partition of HUF

Kulvinder Singh Kohli Vs ACIT (ITAT Delhi)

The Assessee has claimed that as the plot/property was originally acquired by Assessee’s father in the year 2006-07 which was subsequently acquired by inheritance by the Assessee and his brothers on demise of his father on dated 18.11.2009, therefore, the cost of acquisition and benefit of indexation is to be considered on the basis of original cost and the period of acquisition of plot by the Assessee’s father as per provisions of section 49 read with section 48 of the Act.

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