https://www.taxtmi.com/caselaws?id=462014 Alternative statutory remedy does not operate as an inflexible bar to writ jurisdiction where the stamp demand is exceptionally high or the action is tainted by lack of jurisdiction or breach of natural justice; in such circumstances, the writ petition need not be relegated to the statutory forum. A notice under the stamp valuation procedure must disclose the basis of the alleged undervaluation and cannot proceed on a concluded or speculative assumption. Market value for stamp purposes is to be assessed with reference to the property's character and potentiality on the date of execution, not on possible future residential use. On that basis, the notice, proceedings, and additional duty demand were held unsustainable. en-us Thu, 14 Jan 2016 00:00:00 +0530 Thu, 15 May 2025 20:06:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462014 Alternative statutory remedy does not operate as an inflexible bar to writ jurisdiction where the stamp demand is exceptionally high or the action is tainted by lack of jurisdiction or breach of natural justice; in such circumstances, the writ petition need not be relegated to the statutory forum. A notice under the stamp valuation procedure must disclose the basis of the alleged undervaluation and cannot proceed on a concluded or speculative assumption. Market value for stamp purposes is to be assessed with reference to the property's character and potentiality on the date of execution, not on possible future residential use. On that basis, the notice, proceedings, and additional duty demand were held unsustainable. Case-Laws Indian Laws Thu, 14 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462014