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As denominator for indexation we will take CII of the year in which the asset was held by the assessee(acquired after 01/04/2001) or else if it acquired before 01/04/2001 we will take 100 as CII, because the base year is 2001. Next point is if we got the asset as from previous owner mentioned in sec 49(1)... Then also same will applicable... I.e. CII of the first year in which the current owner transfers the asset. But can take benefit of case law... Manjula j shah vs CIT... that is CII in which the previous owner first holding the asset can take (if he acquires after 01/04/2001) or else is 100 as CII (if he acquires asset before 01/04/2021)