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TMI BlogMeaning of “adjusted”, “cost of improvement” and “cost of acquisition”.X X X X Extracts X X X X X X X X Extracts X X X X ..... red on or after the said date in making any additions or alterations to the capital asset by the previous owner or the assessee; and (ii) in any other case, all expenditure of a capital nature incurred in making any additions or alterations to the capital asset by the assessee after it became his property, and, where the capital asset became the property of the assessee by any of the modes specified in section 73 (Table: Sl. No. 1), by the previous owner. (2) For the purposes of sub-section (1)(b), the cost of improvement does not include any expenditure which is deductible in computing the income chargeable under the head "Income from house property", "Profits and gains of business or profession" or "Income from other sources". (3) For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et, being a share or any other security, within the meaning of section 2(h) of the Securities Contracts (Regulation) Act, 1956 (45 of 1956) (herein referred to as the financial asset), the assessee- (a) becomes entitled to subscribe to any additional financial asset; or (b) is allotted any additional financial asset without any payment. (6) In a case referred to in sub-section (5), "cost of acquisition", in relation to-- (a) the original financial asset, on the basis of which the assessee becomes entitled to any additional financial asset, means the amount actually paid for acquiring the original financial asset; (b) any right to renounce the said entitlement to subscribe to the financial asset, when such right is renounced by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d stock exchange as on the 31st January, 2018, the highest price of the capital asset quoted on such exchange on that date; (ii) irrespective of sub-clause (i), if there is no trading in such asset on such exchange on the 31st January, 2018, the highest price of such asset on such exchange on a date immediately preceding the 31st January, 2018 when such asset was traded shall be the fair market value; (iii) if the capital asset is a unit which is not listed on a recognised stock exchange as on the 31st January, 2018, the net asset value of such unit as on that date; (iv) if the capital asset is an equity share in a company which is- (A) not listed on a recognised stock exchange as on the 31st January, 2018 but listed on the date of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : Sl. No. 1), and the capital asset became the property of the previous owner before the 1st April, 2001, subject to sub-section (10), shall be the cost of the capital asset to the previous owner or its fair market value on the 1st April, 2001, at the option of the assessee; (c) if the capital asset became the property of the assessee on the distribution of the capital assets of a company on its liquidation and the assessee has been assessed to income-tax under the head "Capital gains" in respect of that asset under section 68, means the fair market value of the asset on the date of distribution; (d) if the capital asset, being a share or a stock of a company, became the property of the assessee on- (i) the consolidation and division ..... X X X X Extracts X X X X X X X X Extracts X X X X
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