Income-tax Act, 1961
Section - 55 - Meaning of “adjustedâ€, “cost of improvement†and “cost of acquisiÂtionâ€
Meaning of "adjusted", "cost of improvement" and "cost of acquisition".55. (1) For the purposes of sections 48 and 49,-
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| (a) | - | [***] |
| (b) | - | "cost of any improvement",- |
| (1) | - | in relation to a capital asset being goodwill 61-62[or any other intangible asset] of a business or a right to manufacture, produce or process any article or thing or right to carry on any business or profession 61-62[or any other right] shall be taken to be nil ; and |
| (2) | - | in relation to any other capital asset,- |
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