want to know that , if sale consideration of any property is lower than government valuation , then what will be the sale consideration for calculating capital gain
is there any recent ruling in this regards ,
CA Kishore Bardia
HP No . 09300968500
CA KISHORE BARDIA (PARTNER) (24 Points)
29 December 2011want to know that , if sale consideration of any property is lower than government valuation , then what will be the sale consideration for calculating capital gain
is there any recent ruling in this regards ,
CA Kishore Bardia
HP No . 09300968500
CA Maulik Rachh
(-)
(114 Points)
Replied 29 December 2011
Value adopted by autority should be taken as sale consideration...however if assessee proves that such value adopted or assessed is more than FMV of a asset,then FMV =Sale consideration...bt onus of proof is on the assessee.
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 29 December 2011
CAclubindia
