s. 78

Non-arm's length transactions

Common Rules

(a) the person disposing of the asset shall be treated as having received consideration equal to the fair market value of the asset determined at the time the asset is disposed; and (b) the person acquiring the asset shall be treated as having a cost equal to the amount determined under clause (a).

Amendment history (3)

Added by the Finance Act, 2012.
Explanation inserted by the Finance Act, 2026.
Inserted by the Finance Act, 2018.

Amendment notes captured from the source page(s); they may include changes to neighbouring provisions.

Source FBR PDF page 147

Unofficial reference, compiled from the FBR’s consolidated Income Tax Ordinance 2001 (amended up to 30 June 2026). Provided for general information only — not an official FBR publication and not legal or tax advice. Always verify against the official FBR text before relying on it for filing or any decision.