19 August 2011
ASSESSEE GETS JEWELLERY AS GIFT ON 1-2-2011.THE FMV OF JEWELLERY AS WORKED OUT BY ASESSEE IS RS. 12 LAKHS. ASSESSEE TAKES THE REPORT FROM THE REGISTERED VALUER WHO VALUE THE JEWELLERY AT : 1 RS 12.50 LAKHS 2 RS 11.50 LAKHS 3 RS 12.80 LAKHS 4 RS 11.30 LAKHS WHAT WOULD BE FMV AND I/O/S U/S 56(2)(vii)?
20 August 2011
The FMV will be value which is determined by registered valuer. REGISTERED VALUER'S VALUATION REPORT WILL BE DEEMED GOOD EVIDENCE. NO MATTER IF registered valuer give different prices.
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