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Fair Market Value as Full Consideration in Partnership Dissolution: Asset Transfer and Acquisition Cost Explained.

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Full Text of the Document

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....When the Fair Market Value of the asset as on date of dissolution of the partnership firm is deemed to be the full value of consideration received or acquired as a result of transfer, the Fair Market Value shall be the cost of acquisition in the hands of the transferee/the partners who received the property/capital asset. - AT....

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