Section 230A transfer-value discrepancies require Valuation Cell opinion before granting certificate when declared value appears understated. Where the declared transfer value is substantially below fair market value and the taxpayer's tax arrears exceed the declared value, the Income-tax Officer should seek the opinion of the Valuation Cell before issuing a certificate under 230A to prevent alienation that would frustrate recovery of outstanding tax demands.
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.
Section 230A transfer-value discrepancies require Valuation Cell opinion before granting certificate when declared value appears understated.
Where the declared transfer value is substantially below fair market value and the taxpayer's tax arrears exceed the declared value, the Income-tax Officer should seek the opinion of the Valuation Cell before issuing a certificate under 230A to prevent alienation that would frustrate recovery of outstanding tax demands.
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