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Case Law Details

Case Name : Jethiben K Patel Discretionary Trust Vs DCIT (ITAT Ahemdabad)
Related Assessment Year : 2004-2005
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Jethiben K Patel Discretionary Trust Vs DCIT (ITAT Ahemdabad)- In the case of Mohanlal N. Shah (HUF) –vs- ACIT reported in [2008] 26 SOT 380 (Mum) wherein it was held that as per section 48, option is with the assessee to or not to avail of benefit of indexation for computation of capital gains on transfer of long- term capital asset. In this decision, reference was also made to provisions contained in section 112 of the Income-tax Act, 1961 and held that if an assessee computes long-term capital gains from the sale of shares by availing of b

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