Urgent
This query is : Resolved
CA Chetan Singhal
(Querist)
10 March 2013
u/s 49(1) what will be the cost of previous owner if previous owner also has taken the asset in gift
CA Roopak Singh
(Expert)
11 March 2013
in such case the cost of the asset, in the hands of the assessee, will be the cost in the hands of the person from whom the previous owner received it as a gift.
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