https://www.taxtmi.com/caselaws?id=208225 Section 50C of the Income-tax Act was upheld as constitutionally valid because it uses stamp valuation only as a measure for computing capital gains under section 48, not as a tax on the stamp value itself. The Court held that using an external valuation standard for quantification does not alter the nature of the tax or exceed legislative competence. It also found no violation of article 14, since the provision targets undervaluation in a defined class of land or building transactions and is supported by a reference mechanism to the Valuation Officer within the statutory scheme. en-us Mon, 15 Mar 2010 00:00:00 +0530 Thu, 20 Dec 2012 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208225 Section 50C of the Income-tax Act was upheld as constitutionally valid because it uses stamp valuation only as a measure for computing capital gains under section 48, not as a tax on the stamp value itself. The Court held that using an external valuation standard for quantification does not alter the nature of the tax or exceed legislative competence. It also found no violation of article 14, since the provision targets undervaluation in a defined class of land or building transactions and is supported by a reference mechanism to the Valuation Officer within the statutory scheme. Case-Laws Income Tax Mon, 15 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208225