https://www.taxtmi.com/caselaws?id=798421 Section 56(2)(x) permits reliance on stamp-duty value but its valuation presumption is rebuttable. Where an agreement to purchase agricultural land pre-dated the provision, subsequent conversion to non-agricultural use at the purchaser's expense could explain the higher stamp-duty value without establishing undisclosed consideration or independent market appreciation. The purchaser's inability to foresee prescribed banking-mode requirements for advance consideration was material. As the consideration related to the original land extent despite Government retention on conversion, the stamp-duty valuation difference did not justify an addition under Section 56(2)(x). en-us Wed, 02 Sep 2026 00:00:00 +0530 Mon, 07 Sep 2026 08:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798421 Section 56(2)(x) permits reliance on stamp-duty value but its valuation presumption is rebuttable. Where an agreement to purchase agricultural land pre-dated the provision, subsequent conversion to non-agricultural use at the purchaser's expense could explain the higher stamp-duty value without establishing undisclosed consideration or independent market appreciation. The purchaser's inability to foresee prescribed banking-mode requirements for advance consideration was material. As the consideration related to the original land extent despite Government retention on conversion, the stamp-duty valuation difference did not justify an addition under Section 56(2)(x). Case-Laws Income Tax Wed, 02 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798421