TaxTMI 
TaxTMI 
Computation of Fair Market Value of Capital Assets for the purposes of section 50B of the Income-tax Act
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....f clause (ii) of sub-section (2) of section 50B, the fair market value of the capital assets shall be the FMV1 determined under sub-rule (2) or FMV2 determined under sub-rule (3), whichever is higher. (2) The FMV1 shall be the fair market value of the capital assets transferred by way of slump sale determined in accordance with the formula - A+B+C+D - L, where, A= book value o....
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....in the manner provided in sub-rule (1) of rule 11UA; D = the value adopted or assessed or assessable by any authority of the Government for the purpose of payment of stamp duty in respect of the immovable property; L= book value of liabilities as appearing in the books of accounts of the undertaking or the division transferred by way of slump sale, but not including the following....
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.... (v) any amount representing provisions made for meeting liabilities, other than ascertained liabilities; (vi) any amount representing contingent liabilities other than arrears of dividends payable in respect of cumulative preference shares. (3) FMV2 shall be the fair market value of the consideration received or accruing as a result of transfer by way of slump sale determined in ac....
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....he value adopted or assessed or assessable by any authority of the Government for the purpose of payment of stamp duty in respect of the immovable property in case the non-monetary consideration received or accruing as a result of the transfer is represented by the immovable property. (4) The fair market value of the capital assets under sub-rule (2) and sub-rule (3) shall be determined on the ....