Amendment of section 55

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Full Text of the Document

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....a business, tenancy rights, stage carriage permits or loom hours.- (i) in the case of acquisition of such asset by the assessee by purchase from a previous owner, means the amount of the purchase price; and (ii) in any other case [not being a case falling under sub-clauses (i) to (iv) of sub-section (1) of section 49], shall be taken to be nil; (aa) in a case where, by v....