Cost of acquisition rules for goodwill and specified intangibles: purchase price treated as cost, with depreciation reduction where applicable. For specified assets including goodwill, trade marks, rights to manufacture or carry on business, tenancy rights, stage carriage permits and loom hours, cost of acquisition is the purchase price where acquired by the assessee from a previous owner; where transferred under continuity provisions and previously acquired by purchase, cost equals the previous owner's purchase price; otherwise cost is nil. For goodwill acquired by purchase (directly or through the continuity modes) where depreciation was claimed in years before the previous year relevant to assessment years commencing on or after 1 April 2021, the purchase price is to be reduced by total depreciation claimed prior to that previous year.