Computation of fair market value of capital assets for purposes of section 77

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....ule (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 of all the assets (other than jewellery, artistic work, shares, securities and immovable property) as appearing in the books of accounts of the undertaking or the ....

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....uty in respect of the immovable property; and L= book value of liabilities as appearing in the books of account of the undertaking or the division transferred by way of slump sale, but not including the following amounts which relates to such undertaking or division, namely:- (i) the paid-up capital in respect of equity shares; (ii) the amount set apart for payment of di....

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....her 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 accordance with the formula- E+F+G+H, Where, E = value of the monetary consideration received or accruing as a result of the transfer; F =....