Indian Resident is entitled to claim indexation benefit on sale of foreign assets while computing long term capital gains under Section 45
Mumbai Tribunal has recently held that the Indian Resident is entitled to claim indexation benefit on sale of foreign assets while computing long term capital gains under Section 45 r.w.s 48 of the Income tax Act. The Tribunal has further held that in the absence of parity of facts involved in the case of the Mumbai Tribunal decision in ICICI Bank the said decision relied by the tax department cannot be applied.
The copy of the order is as under:
