Capital asset valuation rule excludes transfers to government or accepted official valuations when not contested by the taxpayer. Proviso excludes subsection (2) application where a capital asset is transferred to the Government or where the full value of consideration has been ... Summary
Capital asset valuation rule excludes transfers to government or accepted official valuations when not contested by the taxpayer.
Proviso excludes subsection (2) application where a capital asset is transferred to the Government or where the full value of consideration has been determined or approved by a competent authority and the assessee does not question the adequacy of that determined or approved full value.
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