https://www.taxtmi.com/caselaws?id=314065 Stamp duty on a sale certificate issued after a court-supervised auction had to be computed on the market value already obtained in the auction process, not through a fresh independent valuation enquiry. Where the court had relied on an auction valuation, that valuation was to be treated as the market value if the final bid did not exceed it; if the bid was higher, the higher bid amount governed. If more than one valuation existed, the highest and most recent valuation had to be adopted. The Collector of Stamps could not question the court-approved sale process or adopt a valuation inconsistent with the basis on which the sale was conducted and confirmed. en-us Wed, 27 Mar 2019 00:00:00 +0530 Thu, 16 May 2024 06:34:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314065 Stamp duty on a sale certificate issued after a court-supervised auction had to be computed on the market value already obtained in the auction process, not through a fresh independent valuation enquiry. Where the court had relied on an auction valuation, that valuation was to be treated as the market value if the final bid did not exceed it; if the bid was higher, the higher bid amount governed. If more than one valuation existed, the highest and most recent valuation had to be adopted. The Collector of Stamps could not question the court-approved sale process or adopt a valuation inconsistent with the basis on which the sale was conducted and confirmed. Case-Laws Indian Laws Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314065