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Querist : Anonymous

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Querist : Anonymous (Querist)
12 December 2016 ek individual person ki last year balance sheet me plot ki value 270000/-thi is saal uski market (fair) value 380000/- hai to iske beech ki difference (110000) value kya uski taxable income hogi plz guide me.
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Nischit Sanghavi

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Nischit Sanghavi (Expert)
12 December 2016 According to the cost principle, it requires to report assets at their cost when acquired—not their replacement cost or market value

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