https://www.taxtmi.com/acts?id=11699 Meaning of actual cost of a business capital asset is determined by formula adjusting cost by credited duties and proportionate subsidies, including pre-use interest. Special rules permit AO with Joint Commissioner approval to determine cost where prior use or transfers were made mainly to reduce tax; treat cost as deemed written down value upon gift, inheritance, conversion to business use, or certain intra-group transfers; set lower of re-acquisition price or deemed written down value in buy-back; and reduce cost for non-residents bringing assets into India by hypothetical allowable depreciation. The Board may prescribe additional inclusions and methods. en-us Thu, 16 Sep 2010 18:36:01 +0530 Fri, 17 Sep 2010 13:26:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11699 Meaning of actual cost of a business capital asset is determined by formula adjusting cost by credited duties and proportionate subsidies, including pre-use interest. Special rules permit AO with Joint Commissioner approval to determine cost where prior use or transfers were made mainly to reduce tax; treat cost as deemed written down value upon gift, inheritance, conversion to business use, or certain intra-group transfers; set lower of re-acquisition price or deemed written down value in buy-back; and reduce cost for non-residents bringing assets into India by hypothetical allowable depreciation. The Board may prescribe additional inclusions and methods. Act-Rules Bills Thu, 16 Sep 2010 18:36:01 +0530 https://www.taxtmi.com/acts?id=11699