23 May 2011
Hello ! u/s 50c full value of consideration is taken as value adopted by thestamp duty authouity of state govt for the purpose of stamp duty payment. Here Assesee has an option to to challenge the valuation adopted as he may think tht its higher thn fair market value. My q isif transfer takes plac n wer asessee has already sold d land thn whthr this right of challenging is available to him b4 filling ITR ?