{"id":1106,"date":"2018-05-31T13:12:02","date_gmt":"2018-05-31T13:12:02","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-prakash-krishnalal-bhagwati-2018-254-taxman-132-guj-hc\/"},"modified":"2018-05-31T13:12:02","modified_gmt":"2018-05-31T13:12:02","slug":"pcit-v-prakash-krishnalal-bhagwati-2018-254-taxman-132-guj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-prakash-krishnalal-bhagwati-2018-254-taxman-132-guj-hc\/","title":{"rendered":"PCIT v. Prakash Krishnalal Bhagwati (2018) 254 Taxman 132 (Guj.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue , the Court held that ;since property was acquired by father of assessee in year 1945, indexed cost of acquisition was required to be computed by considering cost of acquisition for year beginning on 1-4-1981, though the assessee acquired the property\u00a0on 8-3-2004, under a will, cost of acquisition was deemed to be cost for which previous owner, namely assessee&#8217;s father, acquired it.(Followed CIT v.Manjula J.Shah ( 2016) 355 ITR 474 ( Bom) (HC) )\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 48 : Capital gains \u2013Indexed cost- Since property was acquired by father of assessee in year 1945, indexed cost of acquisition was required to be computed by considering cost of acquisition for year beginning on 1-4-1981 [ S.45, 49(1)(iii) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1106","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-hQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=1106"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1106\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=1106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=1106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=1106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}