Section 3(1)(a) in The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015

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Union of India - Subsection

Section 3(1)(a) in The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015

(a)value of bullion, jewelery or precious stone shall be the higher of,-

(I)its cost of acquisition; and

(II)the price that the bullion, jewelery or precious stone shall ordinarily fetch if sold in the open market on the valuation date for which the assessee may obtain a report from a valuer recognized by the Government of a country or specified territory outside India or any of its agencies for the purpose of valuation of bullion, jewelery or precious stone under any regulation or law;

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Union of India - Subsection

Section 3(1)(a) in The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015