VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

55(2) which was inserted with effect from April 01, 2002 and deals with 'cost of acquisition' for the purposes of Sections 48 and 49 stipulating that insofar as capital asset in relation to goodwill of a business is concerned, cost of acquisition would be the cost at which it was purchased from the previous owner. According to him, this