Ok now tell me if the Actual consideration recd is 45 Lk Value as per 50C is 48Lk & Valuse under 55A is arrived at 50Lk ( Assuming that the assessee has not challenged the 50C in court. what value shall be considered by the AO for completing the Asst ?

ok but let us dicuss in a sequence so that i can remember more and next time  i can discuss spontaneously

48 lakhs

Reason why 48 & not 50 L, & I suggest you keep your book away, be sure I will make you full of confidence.

the assess can take vo value of 50 lakhs as FMV

Why 48 & not 50 even when 50 is more & again value arrived by I T Officer. ? & Pls keep your book away & be sure I will make you full with confidence, it a challenge

first when i answered 48 i thought the as per 50 C value or as per VO value which ever is less the AO will take so i gave 48

No the value of 48  you told is right, reason is that 48 being the value as defined & nomited by the Govt, then No other valuation can exceed such value, as Suppose if the Assi would have considered 50C value 48 in his computation then Dept had no powers too challenge or change such valus. Now suppose in our above gvn case if the VO value would have been 47 then the value which the AO would have taken wud have been 47 as that is less then the 50C & again the 50c is not challenged by asse. I hope things are a bit clear to you

why the ao will take if vo value is 47 and 50c value is 48 ? Y he will take 47 means he has to take lesser of the both and not higher

Is your concept in this matter clear, or still any doubts Mam

and another question previously when 55A was given by you the assess has quoted less than the value of 50C value and he has not challenged the court ? not challenged means what ? pl tell me in clear thi line

Understand one thing here. he asse has sold the asset for 46 Value as per 50c is 48 but assee has not challenged the 50c value in court but considered the actual consideration for his CG calculation Right. Now since he has not challenged the AO has powers to Invoke 55a which he does & gets 55a value at 47Lk. Now see here the consideration is 46 & 50 @ 48 but not challenged so indirectly 50c valus is ignored by the assee & AO also, so now AO is left with only 2 values 46 & 47 so which is higher ? 47. Now suppose the valus u/s 55a wud have been even 4810000/- then the assessee wud have immd taken the 50c value why should he take more then the Govt value. ? & also the Govt defined values are final no other person or dept can over take such value. I Hope now things are clear ?

Not challenged means that if the assesse is not satisfied or if he feels that the defined guideline / stamp duty valuation is been calculated by the State govt at a higher rate then the prevailing FMV then he can go to the court for reconsideration of such valuation. R u now clear ?

Which book are you refering for DT ?

yes i am clear u can proceed to next topic