https://www.taxtmi.com/acts?id=11285 The amendment to section 49 deems the cost of acquisition in two situations: where a limited liability partnership succeeds a private or unlisted public company, the LLP inherits the predecessor company's cost basis; and where a property's transfer follows a prior valuation that was taxed under the specified provision of section 56, the cost of acquisition for capital gains purposes is deemed to be the value taken into account under that valuation provision. Both changes operate from their stated commencement dates and apply to subsequent assessment years. en-us Fri, 26 Feb 2010 19:37:18 +0530 Fri, 26 Feb 2010 19:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11285 The amendment to section 49 deems the cost of acquisition in two situations: where a limited liability partnership succeeds a private or unlisted public company, the LLP inherits the predecessor company's cost basis; and where a property's transfer follows a prior valuation that was taxed under the specified provision of section 56, the cost of acquisition for capital gains purposes is deemed to be the value taken into account under that valuation provision. Both changes operate from their stated commencement dates and apply to subsequent assessment years. Act-Rules Bills Fri, 26 Feb 2010 19:37:18 +0530 https://www.taxtmi.com/acts?id=11285