Report No. 12
48. Mode of computation and deductions.-
The income chargeable under the head "Capital gains" shall be computed by deducting from the full value of the consideration for which the sale, exchange, relinquishment or transfer of the capital asset is made, the following amounts, namely-
[Section 12B(2), opening lines]
(i) expenditure incurred wholly and exclusively in connection with such sale, exchange, relinquishment or transfer;
[Section 12B(2)(i)]
(ii) the statutory cost of the capital asset, as determined in accordance with the provisions hereinafter contained.
[Section 12B(2)(ii), part)
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