The assessee sold immovable property through which a gas pipeline had been laid, resulting in statutory restrictions under section 9 of the Petroleum and Minerals Pipelines Act, 1962, as well as restrictions imposed by the State Government on the use of the land. Though the matter was referred to the Departmental Valuation Officer, no reduction was allowed on account of these restrictions. The Tribunal held that the statutory restrictions adversely affected the marketability and value of the property. Since the assessee had obtained an independent valuation before the sale and sold the property in accordance with such valuation, the Revenue could not ignore the genuine disadvantage suffered by the assessee. The claim for a 25 per cent reduction in the stamp duty value was held to be reasonable, and no addition under section 50C was warranted. (AY. 2003-04)