https://www.taxtmi.com/forum/issue?id=3004 Two competing deeming fictions govern contribution of land by a partner to a firm: one treats the amount recorded in the firm's books as the consideration for the transfer, while the other treats the stamp duty value adopted or assessed by state authorities as the deemed full value of consideration for land or building where that value exceeds the actual consideration. The discussion records one view that stamp duty valuation can apply when possession transfers, and an opposing view that the book value deeming fiction for intra firm contributions should prevail. en-us Fri, 13 May 2011 14:29:31 +0530 Thu, 23 Jan 2025 15:58:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3004 Two competing deeming fictions govern contribution of land by a partner to a firm: one treats the amount recorded in the firm's books as the consideration for the transfer, while the other treats the stamp duty value adopted or assessed by state authorities as the deemed full value of consideration for land or building where that value exceeds the actual consideration. The discussion records one view that stamp duty valuation can apply when possession transfers, and an opposing view that the book value deeming fiction for intra firm contributions should prevail. Discussion-Forum Income Tax Fri, 13 May 2011 14:29:31 +0530 https://www.taxtmi.com/forum/issue?id=3004