https://www.taxtmi.com/caselaws?id=261602 Section 50C operates as a self-contained deeming provision for capital gains computation: where declared transfer consideration for land or building is below stamp duty value, the stamp value may be adopted without independent proof of actual understatement or receipt of extra consideration, subject to the statutory safeguards in sub-sections (2) and (3). Additional evidence on industrial land rates and restrictive user of the property was held relevant to the valuation dispute, admitted in the interests of justice, and the valuation issue was remanded to the Assessing Officer for fresh consideration on that material. en-us Wed, 08 Jul 2015 00:00:00 +0530 Fri, 17 Jul 2015 10:08:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261602 Section 50C operates as a self-contained deeming provision for capital gains computation: where declared transfer consideration for land or building is below stamp duty value, the stamp value may be adopted without independent proof of actual understatement or receipt of extra consideration, subject to the statutory safeguards in sub-sections (2) and (3). Additional evidence on industrial land rates and restrictive user of the property was held relevant to the valuation dispute, admitted in the interests of justice, and the valuation issue was remanded to the Assessing Officer for fresh consideration on that material. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261602