Assessee acquired as residential house property from her grandmother in 2008 through a registered gift deed.  During year, assessee sold said residential house for a consideration of Rs. 1.98 crores.  She computed long-term capital gain of Rs. 63.17 lakhs after claiming cost of indexation. The AO re-calculated indexed cost by considering actual cost of acquisition and stamp duty paid by grandmother of assessee at time of acquisition in 1988.  He had also considered JDA development expenses incurred by assessee’s grandmother as well as construction cost of property,  however, he had taken indexation only from date of gift till sale of property as against from date of acquisition of property by grandmother of assessee. Tribunal held that indexed cost of acquisition was to be computed by taking year of acquisition as 1988 i.e. when property was acquired by previous owner (grandmother of assessee) and not from year when property was gifted to assessee i.e. 2008. (AY. 2012-13)