https://www.taxtmi.com/caselaws?id=240940 Stamp duty value under Section 50C is only a starting point for inquiry and, by itself, does not establish understatement of sale consideration. An addition cannot be sustained unless the Revenue relies on objective material and relevant facts showing that the declared consideration is not the actual consideration received. Contemporaneous sale deeds and valuation material cannot be ignored merely because the government valuation is higher, and the Assessing Officer must undertake proper inquiry before making the addition. The principle is that Section 50C valuation alone is insufficient without supporting evidence of understatement. en-us Fri, 29 Nov 2013 00:00:00 +0530 Sat, 14 Dec 2013 09:43:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240940 Stamp duty value under Section 50C is only a starting point for inquiry and, by itself, does not establish understatement of sale consideration. An addition cannot be sustained unless the Revenue relies on objective material and relevant facts showing that the declared consideration is not the actual consideration received. Contemporaneous sale deeds and valuation material cannot be ignored merely because the government valuation is higher, and the Assessing Officer must undertake proper inquiry before making the addition. The principle is that Section 50C valuation alone is insufficient without supporting evidence of understatement. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240940