Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Fair market value valuation rules for jewellery, artwork, and shares set market-based methods, formulae, and alternate valuation options. Fair market value of property other than immovable property, for the purposes of section 56, is determined by specific valuation rules for jewellery, artistic works, and shares and securities. Jewellery and artistic works are generally valued at the price they would fetch in the open market on the valuation date; where purchased from a registered dealer on that date, invoice value applies, and where received by other modes above the specified threshold, a registered valuer's report may be obtained. Quoted shares and securities are valued by transaction value where traded through a recognised stock exchange, or by reference to the relevant stock-exchange price where transferred otherwise.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fair market value valuation rules for jewellery, artwork, and shares set market-based methods, formulae, and alternate valuation options.
Fair market value of property other than immovable property, for the purposes of section 56, is determined by specific valuation rules for jewellery, artistic works, and shares and securities. Jewellery and artistic works are generally valued at the price they would fetch in the open market on the valuation date; where purchased from a registered dealer on that date, invoice value applies, and where received by other modes above the specified threshold, a registered valuer's report may be obtained. Quoted shares and securities are valued by transaction value where traded through a recognised stock exchange, or by reference to the relevant stock-exchange price where transferred otherwise.
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