Stamp duty valuation as deemed consideration can displace actual sale price for capital gains, prompting valuation challenges.
Section 50C deems state-notified stamp duty value to be the full value of consideration for immovable property transfers for capital gains; assessees may challenge that valuation before stamp authorities or obtain an AO reference to a Valuation Officer, and where the DVO's figure is lower the AO must adopt it, while DVO reports remain rebuttable and the provision's applicability to special transfers, leaseholds, auctions, and other specific statutory valuation regimes has generated extensive case law and controversy. (AI Summary)