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Cost of acquisition rule: written down value becomes acquisition cost where depreciation was claimed, changing capital gains basis. Where depreciation has been obtained for a capital asset, the capital gains cost provisions apply subject to modification that the asset's written down value, as defined and adjusted, shall be taken as the cost of acquisition of the asset.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Cost of acquisition rule: written down value becomes acquisition cost where depreciation was claimed, changing capital gains basis.</h1> Where depreciation has been obtained for a capital asset, the capital gains cost provisions apply subject to modification that the asset's written down value, as defined and adjusted, shall be taken as the cost of acquisition of the asset.
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