Computation of capital gains on the basis of the fair market value.

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....BDT Dated : July 2, 1976 Section(s) Referred: 4(1)(a) Statute: Gift Tax Act, 1958 In terms of section 4(1)(a) of the Gift-tax Act, 1958, where property is transferred otherwise than for ad....

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....t value. As the cases which would attract the provisions of section 52 would also attract the provisions of section 4(1)(a) of the Gift-tax Act, the Income-tax Officers should, while considering the a....