TMI Blog2013 (12) TMI 721X X X X Extracts X X X X X X X X Extracts X X X X ..... e land or building or both - The consideration received or accrued on the transfer is less than the value adopted or assessed or assessable by an authority of the State Government on which the stamp duty is paid - If the valuation adopted by the Stamp Valuation Authority is more than the consideration received, then such value has to be treated as the full value of the consideration received or ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ilding are not to be considered as separate assets and computation of capital gains cannot be bifurcated? We have heard the learned Counsel for the appellant and have gone through the judgment and order of the learned Tribunal. The whole issue in this case is whether for the purpose of computing capital gains, the land and building can be treated as separate assets as per Section 50C of the I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value adopted 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 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 result of su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the building in case of the building only or in case of land and building both. Thus, the valuation has to be adopted in case of transfer of land and building together jointly and not separately. According to use, the learned Tribunal has correctly interpreted the aforesaid Section. However, the learned Counsel for the appellant says that if sub-sections (2) and (3) of Section 50C of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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