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[Cites 0, Cited by 0] [Section 67(10)] [Section 67] [Entire Act]

Union of India - Subsection

Section 67(10)(b) in The Income Tax Act, 2025

(b)such profits or gains shall be determined irrespective of anything to the contrary contained in this Act as follows:—A = B + C – D,where,A = income chargeable to income-tax under this sub-section as income of the specified entity under the head "Capital gains";B = value of any money received by the specified person from the specified entity on the date of such receipt;C = amount of fair market value of the capital asset received by the specified person from the specified entity on the date of such receipt; andD = amount of balance in the capital account (represented in any manner) of the specified person in the books of account of the specified entity at the time of its reconstitution;