https://www.taxtmi.com/article/detailed?id=7235 Revenue practice of extrapolating higher observed prices to estimate undeclared payments termed on money conflicts with the statutory role of stamp duty valuation as fair market value. Courts permit additions where specific, corroborated evidence or admissions establish receipt of extra payments for particular units, but have disallowed blanket estimation across other units lacking direct evidence, noting each sale is an independent contract with unit-specific value determinants. Absent cogent material, taxing notional income instead of real income is impermissible. en-us Fri, 27 Jan 2017 08:47:52 +0530 Fri, 27 Jan 2017 08:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7235 Revenue practice of extrapolating higher observed prices to estimate undeclared payments termed on money conflicts with the statutory role of stamp duty valuation as fair market value. Courts permit additions where specific, corroborated evidence or admissions establish receipt of extra payments for particular units, but have disallowed blanket estimation across other units lacking direct evidence, noting each sale is an independent contract with unit-specific value determinants. Absent cogent material, taxing notional income instead of real income is impermissible. Articles Income Tax Fri, 27 Jan 2017 08:47:52 +0530 https://www.taxtmi.com/article/detailed?id=7235