TMI BlogSpecial provision for full value of consideration in certain casesX X X X Extracts X X X X X X X X Extracts X X X X ..... dopted 2 [ or assessed or assessable ] by any authority of a State Government (hereafter in this section referred to as the stamp valuation authority ) for the purpose of payment of stamp duty in respect of such transfer, the value so adopted 2 [ or assessed or assessable ] shall, for the purposes of section 48, be deemed to be the full value of the consideration received or accruing as a r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d also that where the value adopted or assessed or assessable by the stamp valuation authority does not exceed one hundred and 7 [ ten per cent. ] of the consideration received or accruing as a result of the transfer, the consideration so received or accruing as a result of the transfer shall, for the purposes of section 48, be deemed to be the full value of the consideration.] (2) Without ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions (6) and (7) of section 23A, sub-section (5) of section 24, section 34AA, section 35 and section 37 of the Wealth-tax Act, 1957 (27 of 1957), shall, with necessary modifications, apply in relation to such reference as they apply in relation to a reference made by the Assessing Officer under sub-section (1) of section 16A of that Act. Explanation 1 . .- For the purposes of this section, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be taken as the full value of the consideration received or accruing as a result of the transfer .] ******************** Notes :- 1. Inserted by the Finance Act, 2002, w.e.f. 1-4-2003. 2. Substituted vide Finance (No. 2) Act, 2009, w.e.f. 1-10-2009, before it was read as, or assessed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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