Meaning of “Cost of acquisition”

Case Name : Cit vs. T. Sreenivasa rao 

Citation : [1987] 31 taxman 466/166 itr 593 (ap)

Court : Andhra pradesh high court

Section : 55(2)

Meaning : The meaning assigned to expression ‘cost of acquisition’ under section 55(2) is exhaustive and the language employed is peremptory. It is not open to court to introduce any other facts of meaning to the expression ‘cost of acquisition’.