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[Cites 0, Cited by 0] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(44) in The Income Tax Act, 2025

(44)"fair market value", in relation to a capital asset, means—
(a)the price that the capital asset would ordinarily fetch on sale in the open market on the relevant date; and
(b)where the price referred to in sub-clause (a) is not ascertainable, such price as determined in the manner, as may be prescribed;