https://www.taxtmi.com/notifications?id=126466 Amendments specify that audited balance-sheets as drawn up on the valuation date must be used for valuation documentation, and establish that fair market value, when inventory is converted to a capital asset, is: stamp-duty value for immovable property; the prescribed valuation method for jewellery, art and specified securities; and otherwise the open-market sale price on the conversion date. en-us Thu, 30 Aug 2018 00:00:00 +0530 Fri, 31 Aug 2018 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=126466 Amendments specify that audited balance-sheets as drawn up on the valuation date must be used for valuation documentation, and establish that fair market value, when inventory is converted to a capital asset, is: stamp-duty value for immovable property; the prescribed valuation method for jewellery, art and specified securities; and otherwise the open-market sale price on the conversion date. Notifications Income Tax Thu, 30 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=126466