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

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 https://www.taxtmi.com/circulars?id=4534 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. en-us Tue, 26 Mar 1974 00:00:00 +0530 Wed, 30 Jul 2008 13:53:00 +0530 TaxTMI RSS Generator 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 https://www.taxtmi.com/circulars?id=4534 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. Circulars Income Tax Tue, 26 Mar 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4534