Capital Gain

Dear BALAJI,

I would simply follow what G.K. bhai does -

Simply - FMV as on 01.04.1981 cannot be taken, since it was converted in 1988, Further Cost shall be the orignal Price only...

Now, I am sure u will say that FMV can be taken..........:))

But Mr.Amir bhai i have a case law in which the Tribunal allowed 1.4.81 Market value ...

Please see this...

Kalyani Exports & Investments (P.) Ltd. / Jannhavi Investments (P.) Ltd. / Rajgad Trading (P.) Ltd. Vs. Deputy Commissioner of Income-tax (2001) - 78 - ITD - 95 (Pune) (T.M.)....

Mr.Amir bhai....

I should say that your views are somewhat like the Tribunals....

You have a really good future ahead....from bottom of my heart....