Dismissing\u00a0 the petition the Court held that\u00a0 the sale consideration was declared in the sale deed, it was not relevant. The value had to be determined under section\u00a050C\u00a0of the Act. If the guideline value was more than the value declared in the document, then the guideline value was relevant for payment of tax, and whether the assessee had received the amount was of no consequence. As long as a sale was effected the assessee was bound by section\u00a050C\u00a0of the Act. (AY.2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 50C : Capital gains-Full value of consideration-Stamp valuation
\nTransfer of immovable property-If the guideline value was more than the value declared in the document, then the guideline value was relevant for payment of tax, and whether the assessee had received the amount was of no consequence. As long as a sale was effected the assessee was bound by section 50C of the Act. [S. 45, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-30955","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-83h","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=30955"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30955\/revisions"}],"predecessor-version":[{"id":30956,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30955\/revisions\/30956"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=30955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=30955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=30955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}