Determination of consideration by government or central bank excludes use of acquisition provisions for such transfers. Where the Central Government or the Reserve Bank of India determines or approves the consideration for a transfer, that consideration is treated as market value, and Chapter XXA acquisition provisions need not be applied to transfers to the Government or to transfers whose full consideration has been so determined or approved.
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.
Determination of consideration by government or central bank excludes use of acquisition provisions for such transfers.
Where the Central Government or the Reserve Bank of India determines or approves the consideration for a transfer, that consideration is treated as market value, and Chapter XXA acquisition provisions need not be applied to transfers to the Government or to transfers whose full consideration has been so determined or approved.
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