Indexation Benefit Shall Be Given To Taxpayer Based On Cost Of Acquisition Of Property Sold By Him: Delhi ITAT

In a recent Delhi ITAT decision, a taxpayer was granted indexation benefit on the cost of property sold, despite acquiring it through an inheritance. The tribunal ruled that the taxpayer was eligible for indexation under Income Tax provisions, considering the fair market value as on the date of inheritance. This decision highlights the application of indexation benefits in cases of inherited properties, ensuring equitable tax treatment based on market value adjustments.