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Section 263 Revision Upheld: AO Ignored Section 43CA in Business Asset Transfer Valuation for Stamp Duty Purposes.
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....Revision u/s 263 - if the transfer of asset is to be assessed under the head `income from business’ necessarily, the provisions of section 43CA would have application and the value of asset for the purpose of stamp duty valuation under the State Government laws would deemed to be the consideration received on account of transfer of such business asset. - AO had failed to take note of the provisions of section 43CA - Revision order sustained.....