This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Full value of consideration used in section 48 does not have reference to market value
Case Law Details
- Case Name
- Assistant Commissioner of Income Tax Vs Akash Association (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Section 50C provides for special provision for full value of consideration in certain cases. The said section provides a deeming fiction under which consideration received or accruing as a result of transfer of a capital asset can be replaced by the value adopted or assessed by stamp valuation authority for the purpose of payment of stamp duty in respect of such transfer. In the said section 50C of the Act, sub-section (2) permits the assessee to dispute such valuation adopted by the Stamp Valuation Authority and in such a case, it is open for the assessing officer to refer th...
