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"As per the legislative history, section 5OC was inserted in the Act by Malvika Agrotech Pvt. Ltd the Finance Act, 2002 with effect from 1-4-2003 and it is in the nature of special provision which is introduced in determining the full value of the consideration in case of transfer of land or building or both. The value determined or assessed by any authority of the State Government for purpose of payment of stamp duty in respect, of such registration of conveyance deed would be deemed to be full value of the consideration received or accruing as a result of such transfer. It becomes apparent that the said section specifically deals with the transfer of the 'capital asset', being land or building or both and it provides for replacing the value adopted or assessed for the purpose of stamp duty, under section 48 in place of value or sale consideration shown by the assessee. So far as section 5OC is concerned the language of the said section is so clear in respect of its intention that it is brought on the statute book by way of deeming provision in the nature of the Explanation to section 48. Moreover, it is abundantly clear from the explanation given in the CBDT Circular No. 8 of 2002, dated 27-8-2002 that the basic intention to insert section 5OC was for the purpose of determining full value of sale consideration for the purpose of computation of capital gains under section 48. There should not be any cloud of doubt that section 5OC has application only to the extent of determining sale consideration for computation. of capital gain under Chapter JV-E of the Act and it cannot be applied for determining the income under other heads. Therefore, when, admittedly, in the instant case the sale of the flats was treated as the business income and not as a capital gain, the provision of section 5OC was not applicable."