50C. Special provision for full value of consideration in certain cases.
(1)Where the
consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land
or building or both, is less than the value adopted 6[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 6[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 such transfer.]
7[Provided that where the date of the agreement fixing the amount of consideration and the date of
registration for the transfer of the capital asset are not the same, the value adopted or assessed or
assessable by the stamp valuation authority on the date of agreement may be taken for the purposes of
computing full value of consideration for such trans fer: