https://www.taxtmi.com/acts?id=32590 Fair market value of inventory converted into or treated as a capital asset is determined category-wise on the conversion date. Immovable property is valued at the stamp duty value adopted, assessed or assessable by the relevant authority. Jewellery, archaeological collections, drawings, paintings, sculptures, works of art, shares or securities covered by rule 11UA are valued under that rule, using the conversion date as the valuation date. Other property is valued at the price it would ordinarily fetch on sale in the open market. en-us Sat, 01 Sep 2018 15:34:41 +0530 Tue, 19 May 2026 13:01:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32590 Fair market value of inventory converted into or treated as a capital asset is determined category-wise on the conversion date. Immovable property is valued at the stamp duty value adopted, assessed or assessable by the relevant authority. Jewellery, archaeological collections, drawings, paintings, sculptures, works of art, shares or securities covered by rule 11UA are valued under that rule, using the conversion date as the valuation date. Other property is valued at the price it would ordinarily fetch on sale in the open market. Act-Rules Income Tax Sat, 01 Sep 2018 15:34:41 +0530 https://www.taxtmi.com/acts?id=32590