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[Cites 0, Cited by 20] [Section 50C(2)] [Section 50C] [Entire Act]

Union of India - Subsection

Section 50C(2)(b) in The Income Tax Act, 1961

(b)the value so adopted ][or assessed or assessable] [ Substituted by Act 33 of 2009, Section 25, for certain words (w.e.f. 1.10.2009).][or assessed or assessable by the stamp valuation authority under sub-section (1) has not been disputed in any appeal or revision or no reference has been made before any other authority, Court or the High Court, the Assessing Officer may refer the valuation of the capital asset to a Valuation Officer and where any such reference is made, the provisions of sub-sections (2), (3), (4), (5) and (6) of section 16-A, clause (i) of sub-section (1) and sub-sections (6) and (7) of section 23-A, sub-section (5) of section 24, section 34-AA, 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 16-A of that Act.] [Inserted by Act 20 of 2002, Section 24 (w.e.f. 1.4.2003).]