For indexation, date should be reckoned from the date from which original owner held property

The brief facts of the case are that the assessee had sold her immovable property being residential flat No.101, 1st floor, Hill Queen, Pali Malla Road, Bandra, Mumbai for Rs. 1,55,00,000/- on 30.08.2006 and after indexation Long Term Capitasl Gains( LTCG) of Rs.1,26,20,624/- were determined. However the assessee claimed exemption u/s.54 on account of investments in two new flats and claimed the net LTCG of Rs. NIL. It had been contented on behalf of the assessee that the property was acquired by her late husband Mr. Sultan Huseini in the F.Y.1999-2000 for a consideration of Rs.27,05.404/-. Th...