https://www.taxtmi.com/acts?id=39343 For specified assets including goodwill, trade marks, rights to manufacture or carry on business, tenancy rights, stage carriage permits and loom hours, cost of acquisition is the purchase price where acquired by the assessee from a previous owner; where transferred under continuity provisions and previously acquired by purchase, cost equals the previous owner's purchase price; otherwise cost is nil. For goodwill acquired by purchase (directly or through the continuity modes) where depreciation was claimed in years before the previous year relevant to assessment years commencing on or after 1 April 2021, the purchase price is to be reduced by total depreciation claimed prior to that previous year. en-us Mon, 01 Feb 2021 16:44:49 +0530 Thu, 04 Feb 2021 14:44:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39343 For specified assets including goodwill, trade marks, rights to manufacture or carry on business, tenancy rights, stage carriage permits and loom hours, cost of acquisition is the purchase price where acquired by the assessee from a previous owner; where transferred under continuity provisions and previously acquired by purchase, cost equals the previous owner's purchase price; otherwise cost is nil. For goodwill acquired by purchase (directly or through the continuity modes) where depreciation was claimed in years before the previous year relevant to assessment years commencing on or after 1 April 2021, the purchase price is to be reduced by total depreciation claimed prior to that previous year. Act-Rules Bills Mon, 01 Feb 2021 16:44:49 +0530 https://www.taxtmi.com/acts?id=39343