Income-tax Act, 1961

Section - 49 - Cost with reference to certain modes of acquisition

Cost with reference to certain modes of acquisition.

49. (1) Where the capital asset became the property of the assessee-

(i)- on any distribution of assets on the total or partial partition of a Hindu undivided family;
(ii)- under a gift or will;
(iii)- (a) by succession, inheritance or devolution, or
- (b) on any distribution of assets on the dissolution of a firm, body of individuals, or other association of persons, where such dissolution had taken place at any time before the 1st day of April, 1987, or
- (c) on any distribution of assets on the liquidation of a company, or
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