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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Fair market value treated as government-fixed or compulsory acquisition consideration; disputed claims deemed claimant's valuation pending decision. Fair market value shall be the amount finally paid or determined under compulsory acquisition law; where consideration is fixed by the Central Government or the Reserve Bank, that fixed consideration shall be taken as the asset's fair market value on the date of transfer, and if contested the transferor's claimed amount shall be treated as fair market value pending final determination.
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 treated as government-fixed or compulsory acquisition consideration; disputed claims deemed claimant's valuation pending decision.
Fair market value shall be the amount finally paid or determined under compulsory acquisition law; where consideration is fixed by the Central Government or the Reserve Bank, that fixed consideration shall be taken as the asset's fair market value on the date of transfer, and if contested the transferor's claimed amount shall be treated as fair market value pending final determination.
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