https://www.taxtmi.com/acts?id=3613 Where the acquirer is connected with the transferor and the officer believes the transfer was made to avoid capital gains tax, the full value of consideration may be taken as the asset's fair market value on the transfer date with prior approval; similarly, a material understatement of declared consideration may justify treating consideration as fair market value, subject to specified exceptions for government transfers and values determined or approved by the Central Government or the Reserve Bank of India. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 18:16:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3613 Where the acquirer is connected with the transferor and the officer believes the transfer was made to avoid capital gains tax, the full value of consideration may be taken as the asset's fair market value on the transfer date with prior approval; similarly, a material understatement of declared consideration may justify treating consideration as fair market value, subject to specified exceptions for government transfers and values determined or approved by the Central Government or the Reserve Bank of India. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3613