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Income Tax - Highlights / Catch Notes

Home Highlights May 2021 Year 2021 This

Long term capital gain - air Market Value (FMV) thereof u/s. ...

Income Tax

May 13, 2021

Long term capital gain - air Market Value (FMV) thereof u/s. 48(ii) r.w.s. Expl (iii) r.w.s. 55A - FMV of the assessee's capital asset @ ₹ 400 per sq. yard by applying “thumb rule” would be just and proper in the given facts and circumstances with a rider that the same shall not be treated as a precedent. Ordered accordingly. - AT

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