(2)Where the asset is a share of an Indian company listed on a recognised stock exchange on the specified date, the fair market value of the share shall be the observable price of such share on the stock exchange :Provided that where the share is held as part of the shareholding which confers, directly or indirectly, any right of management or control in relation to the aforesaid company, the fair market value of the share shall be determined in accordance with the following formula, namely:-Fair market value = (A+B)/CWhere;A = the market capitalisation of the company on the basis of observable price of its shares quoted on the recognised stock exchange;B = the book value of liabilities of the company as on the specified date;C = the total number of outstanding shares :Provided further that where, on the specified date, the share is listed on more than one recognised stock exchange, the observable price of the share shall be computed with reference to the recognised stock exchange which records the highest volume of trading in the share during the period considered for determining the price.
