Definition of cost of acquisition expanded to include intangible assets and other rights, affecting capital gains computation. Amendments to section 55 expand the statutory definitions used for computing capital gains by expressly including 'any other intangible asset' and 'any other right' in the provisions defining 'cost of any improvement' and 'cost of acquisition,' and by substituting broader wording in related sub-clauses to clarify treatment of assets or rights acquired for no consideration.
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Provisions expressly mentioned in the judgment/order text.
Definition of cost of acquisition expanded to include intangible assets and other rights, affecting capital gains computation.
Amendments to section 55 expand the statutory definitions used for computing capital gains by expressly including "any other intangible asset" and "any other right" in the provisions defining "cost of any improvement" and "cost of acquisition," and by substituting broader wording in related sub-clauses to clarify treatment of assets or rights acquired for no consideration.
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