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of <h1>Sections 72 and 73: Definition of Cost of Improvement and Cost of Acquisition for Capital Gains Purposes</h1> For sections 72 and 73, 'cost of improvement' is nil for goodwill, intangible rights and similar rights; for other assets it is capital expenditure on additions or alterations incurred after 1 April 2001 by the owner or previous owner, excluding amounts deductible under other heads. 'Cost of acquisition' is generally the purchase price if bought, or nil otherwise, with purchase-price adjustments reducing earlier depreciation for goodwill. Specific rules govern rights to subscribe or allotted financial assets, valuation of long-term equity acquired before 1 Feb 2018 (higher of cost and specified FMV measure), optional base of cost or 1 Apr 2001 FMV for pre-2001 acquisitions (stamp-duty cap for land/buildings), and special demutualisation provisions.
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