Assessing Officer Must Refer to Valuation Officer if Market Value Claimed Lower Than Stamp Duty u/s 50C.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Once the assessee claims that the actual market value of the land or building is less than stamp duty valuation adopted by the authorities u/s 50C, it is incumbent upon the AO to refer the valuation of land or building to the departmental valuation officer - AT....