Occupancy Certificate Not Starting Point for Indexation: Bangalore ITAT Allows Benefit From Actual Use Date

DCIT Vs Boyance Infrastructure Pvt. Ltd. (ITAT Bangalore) Occupancy Certificate is NOT the Starting Point for Indexation- Bangalore ITAT Allows Indexation From Year Property Was Actually Put to Use The Bangalore ITAT dismissed the Department’s appeal and held that indexation benefit for computing capital gains must be granted from FY 2008-09, being the year in which the township was actually constructed, let out to GMR, and rental income was offered to tax – and not from the later year in which the occupancy certificate was issued. The Tribunal observed that the property was already in...