Cost of acquisition for depreciable assets treated as written down value; capital gains computation adjusts accordingly. When a taxpayer has claimed depreciation in respect of a depreciable asset, the capital gains computation under the usual provisions applies subject to the modification that the asset's written down value, as defined for depreciation and as adjusted, shall be taken as the cost of acquisition for computing capital gains.
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Provisions expressly mentioned in the judgment/order text.
Cost of acquisition for depreciable assets treated as written down value; capital gains computation adjusts accordingly.
When a taxpayer has claimed depreciation in respect of a depreciable asset, the capital gains computation under the usual provisions applies subject to the modification that the asset's written down value, as defined for depreciation and as adjusted, shall be taken as the cost of acquisition for computing capital gains.
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