FAIR MARKET VALUE-2(22B)

FAIR MARKET VALUE 2(22B)

Definition

“Fair Market Value”, in relation to a capital asset, means—

 (i)  the price that the capital asset would ordinarily fetch on sale in the open market on the relevant date ; and

(ii)  where the price referred to in sub-clause (i) is not ascertainable, such price as may be determined in accordance with the rules made under this Act ;]

 

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