Section 48 of Income-Tax Act, 1961
Section 48 of the Income-Tax Act, 1961 deals with Computation of Capital gains
Recent / Related Cases
- Provision of section 48 does not contain words to the effect "fair market value" etc.
- The provision regarding computation of capital gains u/s. 48 contemplates ascertainment of the full value of consideration received or accruing as a result of the transfer of the capital asset; the word "received" means actually received and the word "accruing" means the debt created in favour of the assessee as a result of transfer; in any case, both terms are used as actuals and not estimated amounts -  10-284 (Delhi - ITAT)
- May 2011: AAR - New Delhi: A non-resident company is not liable to tax in India u/s. 45 r.w.s. 48 in relation to proposed contribution of its share in an Indian company to another Indian company without consideration
- As the 'consideration' is incapable of being valued in definite terms or it remains unascertainable on the date of occurrence of taxable event, the question of applying section 45 read with section 48 would not arise -  11-43