Capital gains computation: exclude interest-related deductions from cost of acquisition or improvement, altering taxable gain calculation. The amendment to section 48 provides that the cost of acquisition and cost of improvement for computing capital gains shall exclude deductions claimed on interest under the Act's interest-related provisions and the provisions governing specified deductions, with the change applied prospectively from the commencement of the stated financial year to the relevant assessment year and thereafter.
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Provisions expressly mentioned in the judgment/order text.
Capital gains computation: exclude interest-related deductions from cost of acquisition or improvement, altering taxable gain calculation.
The amendment to section 48 provides that the cost of acquisition and cost of improvement for computing capital gains shall exclude deductions claimed on interest under the Act's interest-related provisions and the provisions governing specified deductions, with the change applied prospectively from the commencement of the stated financial year to the relevant assessment year and thereafter.
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