https://www.taxtmi.com/caselaws?id=30601 Section 50C of the Income-tax Act is described as an anti-evasion deeming provision aimed at curbing understatement of consideration in transfers of land and building. It is said to fall within Parliament's income-tax competence under Entry 82 of List I, with ancillary power to prevent revenue leakage. The provision is also noted as constitutionally sustainable against Article 14 and natural justice challenges because the stamp valuation mechanism contains notice, hearing, enquiry, appeal, revision, and a reference to a Valuation Officer where valuation is disputed. Its application only to capital assets, and not to trading assets or stock-in-trade, is treated as a valid classification with a rational nexus to the object of preventing undervaluation. en-us Tue, 05 Aug 2008 00:00:00 +0530 Thu, 06 Nov 2025 11:27:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30601 Section 50C of the Income-tax Act is described as an anti-evasion deeming provision aimed at curbing understatement of consideration in transfers of land and building. It is said to fall within Parliament's income-tax competence under Entry 82 of List I, with ancillary power to prevent revenue leakage. The provision is also noted as constitutionally sustainable against Article 14 and natural justice challenges because the stamp valuation mechanism contains notice, hearing, enquiry, appeal, revision, and a reference to a Valuation Officer where valuation is disputed. Its application only to capital assets, and not to trading assets or stock-in-trade, is treated as a valid classification with a rational nexus to the object of preventing undervaluation. Case-Laws Income Tax Tue, 05 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30601