Whether sub-section (2) can be invoked in the cases of transfer of capital assets at the instance of Government or where consideration for such transfer is fixed by the Government or Reserve Bank

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..... d in the cases of transfer of capital assets at the instance of Government or where consideration for such transfer is fixed by the Government or Reserve Bank I am directed to say that the Board has examined in consultation with the Ministry of Law the question whether the provisions of section 52(2) can be invoked in respect of transfer of capital assets at the instance of the Government or wh .....

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..... fair market value, then the amount claimed by the party on account of the said asset shall be taken to be its fair market value until a final decision is arrived at as to the amount actually payable to the owner of the property by or under the law or the agreement of transfer. Circular : No. 132 [F. No. 207/11/74-IT(A-II)], dated 26-3-1974. - Circular - Trade Notice - Public Notice - Instru .....

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