Oxidation of some derivatives of 4b,9b–dihydroxyindeno[1,2?b]benzofuran?10?one have been investigated in detail using lead(IV) acetate in acetic acid under reflux conditions and periodic acid in aqueous ethanol at room temperature. We realized that during the first 5–15 minutes of the oxidation reactions in lead(IV) acetate/acetic acid system, 3H,3’H?spiro[benzofuran?2,1??isobenzofuran]?3,3??dione derivatives have been synthesized chemo selectively, while, if the reaction mixtures stirred for additional 3 hours, the main products would be 2?(2?(Methoxycarbonyl)?3?oxo?2,3?dihydrobenzofuran?2?yl)benzoic acids. Moreover, room temperature oxidation of 4b,9b–dihydroxyindeno[1,2?b]benzofuran?10?ones by periodic acid (H5IO6), leads to the formation of 3H,3’H?spiro[benzofuran?2,1??isobenzofuran]?3,3??dione derivatives in good to excellent yields.