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Deemed cost of acquisition for shares or debentures received in specified transfers is apportioned to part of the debenture cost. Where a capital asset that is a share or debenture becomes the assessee's property in consideration of a transfer of a debenture, debenture stock, bond or deposit certificate under the prescribed transfer provisions, the cost of acquisition of the acquired asset shall be deemed to be the part of the cost of that debenture, debenture stock, bond or deposit certificate which relates to the asset acquired.
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>Deemed cost of acquisition for shares or debentures received in specified transfers is apportioned to part of the debenture cost.</h1> Where a capital asset that is a share or debenture becomes the assessee's property in consideration of a transfer of a debenture, debenture stock, bond or deposit certificate under the prescribed transfer provisions, the cost of acquisition of the acquired asset shall be deemed to be the part of the cost of that debenture, debenture stock, bond or deposit certificate which relates to the asset acquired.
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