Section 50D of Income Tax Act "Fair market value deemed to be full value of consideration in certain cases"
50D. Where the consideration received or accruing as a result of the transfer of a capital asset by an assessee is not ascertainable or cannot be determined, then, for the purpose of computing income chargeable to tax as capital gains, the fair market value of the said asset on the date of transfer shall be deemed to be the full value of the consideration received or accruing as a result of such transfer.
51. Where any capital asset was on any previous occasion
the subject of negotiations for its transfer, any advance or
other money received and retained by the assessee in respect
of such negotiations shall be deducted from the cost for
which the asset was acquired or the written down value or
the fair market value, as the case may be, in computing the
cost of acquisition :
Provided that where any sum of money, received as an advance
or otherwise in the course of negotiations for transfer of a
capital asset, has been included in the total income of the
assessee for any previous year in accordance with the
provisions of clause (ix) of sub-section (2) of section 56,
then, such sum shall not be deducted from the cost for which
the asset was acquired or the written down value or the fair
market value, as the case may be, in computing the cost of
acquisition.
What is Capital gains? Section 45 of Income Tax Act 1961
What are the Transactions not regarded as transfer? Section 47 of Income Tax Act 1961
What is Withdrawal of exemption in certain cases? Section 47A of Income Tax Act 1961
What is Mode of computation? Section 48 of Income Tax Act 1961
What is Cost with reference to certain modes of acquisition? Section 49 of Income Tax Act 1961