Application of valuation provision should exclude bona fide property transactions while targeting routine undervaluation. Application of the valuation provision in property transfer assessments targets transactions where the deeded amount is materially lower than actual receipts to defeat unaccounted cash; tax officers should keep the parliamentary assurance in mind and not invoke the provision in demonstrably bona fide transfers while using it against routine undervaluation.
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.
Application of valuation provision should exclude bona fide property transactions while targeting routine undervaluation.
Application of the valuation provision in property transfer assessments targets transactions where the deeded amount is materially lower than actual receipts to defeat unaccounted cash; tax officers should keep the parliamentary assurance in mind and not invoke the provision in demonstrably bona fide transfers while using it against routine undervaluation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
