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of <h1>Depreciation-adjusted written down value treated as acquisition cost for capital gains computation under capital gains rules</h1> Where a capital asset has benefited from depreciation deductions, the usual capital gains provisions on computation of cost and indexation apply subject to a modification: the asset's adjusted written down value (as defined for depreciation) is treated as its cost of acquisition for calculating capital gains. Sections governing computation and taxation of capital gains operate with this substituted cost, thereby effectively using the depreciation-derived written down value in place of the original purchase cost.
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