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Full value of consideration used in section 48 does not have reference to market value

TG Team 28 May 2017 6,390 Views 1 comment Print
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Case Law Details

Case Name : Assistant Commissioner of Income Tax Vs Akash Association (ITAT Ahmedabad)
Related Assessment Year : 2009-10
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Section 50C provides for special provision for full value of consideration in certain cases. The said section provides a deeming fiction under which consideration received or accruing as a result of transfer of a capital asset can be replaced by the value adopted or assessed by stamp valuation authority for the purpose of payment of stamp duty in respect of such transfer. In the said section 5

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