At the time of devolution ___________ would be the cost of the asset. | Faculties

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Mr. Dubey

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📊 Income Tax Law and Practices

Q. At the time of devolution ___________ would be the cost of the asset.

(A) FMV
(B) Historical cost
(C) higher of a and b
(D) none

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✅ Correct Answer: (A) FMV

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