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of <h1>Statute makes notional stamp-duty value binding for income-tax, allowing hypothetical valuations and raising compliance and litigation risks</h1> The enacted definition expands the bill by treating 'assessable' stamp duty value as a notional figure the relevant stamp authority 'would have adopted' if referred the matter, and by declaring that value binding for income-tax purposes 'irrespective of anything to the contrary' in other law. This creates a statutory primacy for a notional stamp-duty benchmark in tax computations, enables tax authorities to apply hypothetical stamp valuations even absent formal assessments, and increases compliance, evidentiary and litigation risk for taxpayers who may need formal stamp determinations or contemporaneous market proof to contest tax adjustments.
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