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Indian Income Tax Appellate Tribunal Issues Decision on Using a Property's Stamp Duty Market Value for Determining Capital Gain

|Approved Changes|India
India

A 9 August 2019 decision of the Kolkata Income Tax Appellate Tribunal has been published concerning the treatment of a property's market valuation for stamp duty purposes as the consideration received for determining a capital gain. The case involved an assessee that in the Assessment Year 2014-15 declared long-term capital gains of INR 12,263,576 from the sale of the property, with a total sa…

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