03 June 2011
1. FOR DETERMINING FMV ON 1-4-1981 TAKE HELP OF A REGISTERED VALUER 2. TAXABILITY WILL BE OF INTEREST IT WILL BE TAXABLE IN A RECENT CASE RELATED TO SECTION 54EC IT HAS BEEN HELD THAT FOR ALL PURPOSES THE FIRST HOLDER IS THE OWNER AND second holdre has no owneship rights in view of that case intt will be taxed in hands of first holder only 3. u will have to proive it by documentary evidence
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