The firm is succeeded by the company, therefore, the cost of ...

Income Tax

June 9, 2016

The firm is succeeded by the company, therefore, the cost of acquisition of the company would be as that of acquisition of the firm. The valuation of land and assets of firm though valued by the valuer will not change or alter the cost of acquisition of the firm despite valuation of assets of the firm and would remain the same, and therefore the cost of acquisition of the company would be cost of acquisition of the firm - AT

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The firm is succeeded by the company, therefore, the cost of ...

Income Tax

June 9, 2016

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