Section 73 - Cost with reference to certain modes of acquisition.

Deemed acquisition cost rules for specified capital assets on gifts, succession, reorganisations and special transfer situations

For specified capital assets acquired by gift, will, succession, liquidation distribution, trust transfer, certain specified transfers or reorganisations, the cost of acquisition is deemed to be the previous owner's cost (increased by improvements) or such special cost as set out in the Table; specific rules fix cost for amalgamation, debentures, sweat equity, conversions, GDR redemptions, units, segregated portfolios and demerged shares (with prescribed proportional formulas), Electronic Gold Receipts, declared assets, stamp-duty valuation after two years, and other special situations, with defined meanings for terms like previous owner, portfolio and net worth.