Section 43(1) - "Actual Cost", Section 43(2) - "Paid", Section 43(3) - "Plant"

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.... cost. Explanations to Section 43(1) Determination of Actual Cost in special cases Expl. to Sec. 43(1) Mode of Acquisition Actual Cost 1 Asset acquired for scientific research subsequently brought into business use Actual Cost less deduction availed u/s 35. 1A Stock converted into Capital asset and used for Business or Profession Fair Market Value on the date of conversion. 2 Asset acquired by way of gift/will or inheritance Actual cost to the previous owner minus depreciation actually allowed to him. 3 Asset acquired at higher price from any other person using the asset for his business or profession with a intention to claim depreciation on enhanced cost and reduce tax liability Actual cost to be determined by the ass....

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....ompany at the beginning of the previous year will be taken as the actual cost to the amalgamated company. 7A Asset transferred by a demerged company to the resulting Indian company. Actual cost shall be the written down value in the hands of the demerged company. 8 Asset acquired out of borrowed funds Interest on loan borrowed relating to the period after the asset is first put to use shall never form part of actual cost. 9 Asset acquired subject to levy of GST, excise duty or customs duty in respect of which ITC/CENVAT credit is availed. So much of the duty in respect of which a claim of credit has been made and allowed shall not form part of the actual asset. 10 A portion of the cost of an asset acquired is met directly or indi....