https://www.taxtmi.com/caselaws?id=194522 Section 47-A of the Indian Stamp Act, 1899 applies only where the registering authority has a reasoned belief that the instrument does not truly reflect market value and that undervaluation is being used to evade stamp duty. Where industrial assets of a sick company are sold through a statutory, open tender process and the highest bid is accepted, the disclosed consideration is treated as a market-tested price. On those facts, there is no basis to infer fraudulent undervaluation, so additional stamp duty cannot be demanded and registration must follow the value stated in the conveyance. en-us Fri, 08 May 2009 00:00:00 +0530 Tue, 12 Sep 2017 15:51:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194522 Section 47-A of the Indian Stamp Act, 1899 applies only where the registering authority has a reasoned belief that the instrument does not truly reflect market value and that undervaluation is being used to evade stamp duty. Where industrial assets of a sick company are sold through a statutory, open tender process and the highest bid is accepted, the disclosed consideration is treated as a market-tested price. On those facts, there is no basis to infer fraudulent undervaluation, so additional stamp duty cannot be demanded and registration must follow the value stated in the conveyance. Case-Laws Companies Law Fri, 08 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194522