Section 40(1)(b) in The Income Tax Act, 2025

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Union of India - Subsection

Section 40(1)(b) in The Income Tax Act, 2025

(b)an assessee, under a gift, or will, or an irrevocable trust, or on total or partial partition of a Hindu undivided family, when sold as stock-in-trade shall be the sum of—

(i)cost of acquisition of the said asset in the hands of the amalgamating company in case of clause (a), or the transferor or donor in case of clause (b);

(ii)any cost of improvement made;

(iii)any expenditure incurred by the amalgamating company or transferor or donor, as the case may be, wholly and exclusively in connection with such transfer.

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Union of India - Subsection

Section 40(1)(b) in The Income Tax Act, 2025