https://www.taxtmi.com/caselaws?id=308952 Section 47A of the Indian Stamp Act, 1899, as applicable to West Bengal, is confined to cases of genuine undervaluation in conveyances where the declared value may not reflect the true market value. A court-monitored public auction, conducted transparently with competitive bidding and court confirmation of price, is materially different from a private sale and falls outside that undervaluation scheme. The registering authority therefore cannot reopen the court-approved consideration, reassess the market value on a notional higher basis, or demand deficit stamp duty merely because it considers the property capable of fetching more. The High Court's view was affirmed and the auction purchasers retained the benefit of the court-fixed consideration for registration purposes. en-us Thu, 10 Nov 2022 00:00:00 +0530 Wed, 02 Aug 2023 21:18:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308952 Section 47A of the Indian Stamp Act, 1899, as applicable to West Bengal, is confined to cases of genuine undervaluation in conveyances where the declared value may not reflect the true market value. A court-monitored public auction, conducted transparently with competitive bidding and court confirmation of price, is materially different from a private sale and falls outside that undervaluation scheme. The registering authority therefore cannot reopen the court-approved consideration, reassess the market value on a notional higher basis, or demand deficit stamp duty merely because it considers the property capable of fetching more. The High Court's view was affirmed and the auction purchasers retained the benefit of the court-fixed consideration for registration purposes. Case-Laws Indian Laws Thu, 10 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308952