Without referring the matter to DVO, A.O. cannot compute capital gains u/s 50C

Section 50C of the Act prescribes for adoption of full value of consideration in certain cases. It is provided that where the consideration received or accruing as a result of the transfer of a capital asset being land or building or both is less than the value adopted by an authority of the State Government for the purposes of payment of Stamp duty in respect of such transfer, then the value so adopted by the State Government authority shall be deemed to be the full value of consideration received or accruing as a result of such transfer.

Please become a Premium member. If you are already a Premium member, login here to access the full content.