Case Law Details
Case Name : ITO Vs Pritendra C. Jhaveri (ITAT Mumbai)
Appeal Number : ITA No. 354/Mum/2016
Date of Judgement/Order : 04/07/2016
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
ITO Vs Pritendra C. Jhaveri (ITAT Mumbai)
Since the expression ‘held by the assessee’ is not defined under section 48, the same has to be understood as defined under Explanation 1(i)(b) to section 2(42A) which provides that in determining the period for which an asset is held by assessee under a gift or will the period for which the asset was held by the previous owner would be included. Accordingly, indexed cost of acquisition was to be computed with reference to the year in which previous owner first held th
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.
2 Comments
Leave a Comment
Subscribe to Our Daily Newsletter
Sponsored
Sponsored
Sponsored
Search Post by Date
Is the above decision is applicable if one purchased a flat on resale. Suppose Mr. A purchased a flat in 2001-02. He sold the flt to Mr. B in 2007-08. Mr. B sold the flat in 2017-18. What will be the base year for LTCG tax for Mr. B – 2001-02 or 2007-08?