Cost of acquisition deemed for business trust units received under specified transfer, aligning unit cost with the underlying share's acquisition cost. The amendment adds a deeming provision in section 49 providing that when a business trust unit is acquired by an assessee pursuant to the specified transfer clause, the unit's cost of acquisition shall be deemed to be the cost of acquisition to the assessee of the underlying share referred to in that transfer clause, applying from the commencement of the stated tax year and to subsequent assessment years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cost of acquisition deemed for business trust units received under specified transfer, aligning unit cost with the underlying share's acquisition cost.
The amendment adds a deeming provision in section 49 providing that when a business trust unit is acquired by an assessee pursuant to the specified transfer clause, the unit's cost of acquisition shall be deemed to be the cost of acquisition to the assessee of the underlying share referred to in that transfer clause, applying from the commencement of the stated tax year and to subsequent assessment years.
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