https://www.taxtmi.com/article/detailed?id=159 The constitutional validity of the provision deeming sale consideration to a prescribed valuation benchmark was upheld based on Parliament's legislative competence and the provision's aim to prevent undervaluation and tax evasion. The author identifies omitted challenges: institutional bias in valuations by stamp authorities and departmental valuation officers; absence of statutory provision for independent or transaction-based valuation; denial of natural justice by limiting meaningful contestation; and unaddressed implications for transfers involving implied gifts, recommending further appeal. en-us Mon, 08 Sep 2008 00:00:00 +0530 Mon, 08 Sep 2008 14:15:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=159 The constitutional validity of the provision deeming sale consideration to a prescribed valuation benchmark was upheld based on Parliament's legislative competence and the provision's aim to prevent undervaluation and tax evasion. The author identifies omitted challenges: institutional bias in valuations by stamp authorities and departmental valuation officers; absence of statutory provision for independent or transaction-based valuation; denial of natural justice by limiting meaningful contestation; and unaddressed implications for transfers involving implied gifts, recommending further appeal. Articles Income Tax Mon, 08 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=159