Description:
Where the assessee has not disputed the value adopted or assessed by the stamp valuation authority or no appeal or revision or reference has been made for the purpose, the assessee can make a claim before the Assessing Officer and the Assessing Officer may make a reference to the Valuation Officer for ascertaining the fair market value of the property for computing the capital gains under section 48.
Source:
1. www.tpcc.in.
2. The Tax Reference .Volume120. Issue No.2, 11 July 2011 Page No.28.
Our Comment:
If there is difference in the value of conaisderation received and stamp duty as per the State Govt. Rules, the assessee can request for valuations provisions
