Stamp duty value treated as full consideration where declared consideration is lower; Valuation Officer referral allowed. Section 78 deems the stamp duty value as the full value of consideration for transfers of land or building when declared consideration is lower, subject to: (a) using the stamp duty value on the agreement date if the agreement and registration dates differ and payment was made on or before the agreement date in specified banking or online mode; or (b) treating the declared consideration as full value if stamp duty value does not exceed 110% of it. The Assessing Officer may refer valuation to a Valuation Officer when the assessee claims stamp duty exceeds fair market value, and if the Valuation Officer's value exceeds stamp duty, the stamp duty value is taken as full consideration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Stamp duty value treated as full consideration where declared consideration is lower; Valuation Officer referral allowed.
Section 78 deems the stamp duty value as the full value of consideration for transfers of land or building when declared consideration is lower, subject to: (a) using the stamp duty value on the agreement date if the agreement and registration dates differ and payment was made on or before the agreement date in specified banking or online mode; or (b) treating the declared consideration as full value if stamp duty value does not exceed 110% of it. The Assessing Officer may refer valuation to a Valuation Officer when the assessee claims stamp duty exceeds fair market value, and if the Valuation Officer's value exceeds stamp duty, the stamp duty value is taken as full consideration.
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