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Income Tax - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Fair Market Value - Capital Gains - FMV represents the price ...


Fair Market Value Can't Rely on Understated Sale Deed Prices for April 1, 1981, in Tax Context.

September 21, 2013

Case Laws     Income Tax     AT

Fair Market Value - Capital Gains - FMV represents the price that a seller is willing to accept and a buyer is willing to pay in the open market - the sale consideration of an asset, as recorded in the registered sale deed is generally understated and, hence, cannot be taken as FMV as on 1.4.1981 - AT

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