One DJ held an undivided half share in a piece of land. She expired in June 1982. Probate of her will was granted by the High Court on November 5, 2004. Under the will, she bequeathed her share in the property to her aunt RRF and her brother MN in equal shares. Accordingly, the undivided one-fourth share in the property vested in RRF from the year 1982. RRF expired on May 12, 1992 leaving a will dated June 3, 1977, where under she bequeathed all her estate including the one-fourth share in the property to her husband RF. RF expired on September 17, 2006 leaving behind two sons as his legal heirs namely, SRF and PRF. Under a will of dated February 19, 2006, RF bequeathed his estate including his one-fourth share in the property to his two sons in equal shares. Though no probate was granted in respect of the wills of RRF and RF, their only sons-SRF and PRF accepted the wills and acted upon them. Accordingly, PRF became the owner of one-eighth share in the property. The assessee decided to buy that one-eighth share. An order directed the assessee to deduct tax of Rs. 28,74,100 and the assessee deposited this amount of Rs. 28,74,100 with the Revenue even though it was the assessee’s case that the amount directed to be deducted as tax at source had been incorrectly calculated and only a sum of Rs. 74,523 was the tax that had to be deducted. On a writ petition it was claimed that indexation of the cost of acquisition under the second proviso to section 48 should be available from the financial year 1981-82 although the transfer of the property to the assessee had taken place in the financial year 2010-11.Court held that  the cost of acquisition of the property in the hands of the seller was deemed to be the cost for which the property was acquired by late DJG and the period of holding of lDJG, RRF and RF had also to be included in the period of holding of the seller for ascertaining the period for which the property was held by the seller. Based on the scheme of the Act, as provided in section 49(1)(ii), clauses (29A) and (42A) of section 2 and section 55(2)(b)(ii) of the Act, indexation of the cost of acquisition under the second proviso to section 48 would be available from the financial year 1981-82.