Mr.X received Shares from her sister (Y) in 2019 as Gift. Shares bought by her sister during 2010-2017; Now in 2021 Mr.x want to sell some of those Shares and he wants to know cost of such Shares. The issue is as follows :
<> Entire share portfolio of son (Mr.X) and daughter (Y) was managed by their father, and father was habituated to note down cost of shares bought in and date of purchase in his personal register, so we have cost and date of purchase of shares which were gifted by Y to Mr.X but shares were bought in 2010-2017 and we don't have broker's invoices to prove that cost and date of purchase mentioned in father's personal register are absolutely correct.
<> Now is there any case judgement available to reference this issue ?
<> Can Mr.X take cost mentioned in father's register as such?
<> What he should do?
Note :-
1. We have broker's statement which shows shares hold by Y which were gifted to Mr.X but there we don't have cost and date of acquisitions.
2.Broker is not available to help in this as father changed 3 brokers' in 2010-2020 and no one is having original cost and dates.
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