Expenditure allowable1 as a deduction from the consideration in the computation of the gain accruing to a person on the disposal of an asset is restricted to expenditure falling under the three following heads2.
(1) The cost of acquisition, being the amount or value3 of the consideration, in money or money's worth, given by the person making the disposal or on his behalf wholly and exclusively4 for the acquisition of the asset, together with the incidental costs to him of the acquisition or, if the asset was not acquired by him, any expenditure wholly and exclusively incurred by him
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