Amendment of section 50C

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..... Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:— 'Explanation 2.— For the purposes of this section, the expression "assessable" means the price which the stamp valuation authority would have, notwithstanding anything to the contrary contained in any other law for the time being in force, adopted or assessed, if it were referred .....

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..... to substitute the words or assessed wherever they occur in the said section by the words or assessed or assessable . It is also proposed to insert an Explanation after the existing Explanation so as to define the expression assessable as the price which the stamp valuation authority would have adopted or assessed, if it were referred to such authority for the payment of stamp duty notwithstan .....

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