What is Correct Method For Valuation For Indexation Purpose?

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The assessee declared certain pieces of diamond with cracks and spots acquired during the assessment year 1975-76 under the VDIS, 1997. The assessee , sold few of such diamonds after processing.However,for the purpose of computation of capital gain, the assessee opted for fair market value of diamonds as on 1-4-1981 on basis of valuation report…

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