Chhattisgarh HC upholds Jurisdiction of Stamp Collector for Market Value of Immovable Property Transferred under Income Tax Act

The Chhattisgarh High Court has upheld the jurisdiction of a "stamp collector for the market value of immovable property transferred under the Income Tax Act." The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person. The court’s decision is a crucial reminder to all that they must be diligent in their dealings.