The numerical solution of the generalized time fractional inverse heat conduction problem (GTFIHCP) on a finite slab is investigated in the presence of measured (noisy) data when the time fractional derivative is interpreted in the sense of Caputo. The GTFIHCP involves the simultaneous identification of the heat flux and temperature transient functions at one of the boundaries of the finite slab together with the initial condition of the original direct problem from noisy Cauchy data at a discrete set of points on the opposite (active) boundary. A finite difference space marching scheme with adaptive regularization, using trigonometric mollification techniques and generalized cross validation is introduced. Error estimates for the numerical solution of the mollified problem and numerical examples are provided.