https://www.taxtmi.com/caselaws?id=237131 Section 50C did not justify the addition because the stamp valuation adopted by the Assessing Officer related to the wrong location and not to the property actually transferred. The record showed that the land was at village Dhandari Khurd and that the applicable circle rate for that property was lower than the declared sale consideration. As the declared consideration exceeded the applicable stamp valuation and the Revenue produced no independent evidence of understatement, the deeming fiction under section 50C did not operate. The addition was therefore deleted and the Revenue's challenge failed. en-us Fri, 18 May 2012 00:00:00 +0530 Thu, 19 Sep 2013 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237131 Section 50C did not justify the addition because the stamp valuation adopted by the Assessing Officer related to the wrong location and not to the property actually transferred. The record showed that the land was at village Dhandari Khurd and that the applicable circle rate for that property was lower than the declared sale consideration. As the declared consideration exceeded the applicable stamp valuation and the Revenue produced no independent evidence of understatement, the deeming fiction under section 50C did not operate. The addition was therefore deleted and the Revenue's challenge failed. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237131