Section 50C of the Income-tax Act, 1961, addresses the issue of undervaluation of immovable property in sale transactions for the purpose of evading taxes. It mandates that if the consideration received or accruing as a result of the transfer of a capital asset, being land or building or both, is less than the value adopted or assessed by the stamp valuation authority for the purpose of payment of stamp duty, then the value so adopted or assessed shall be deemed to be the full value of the consideration received or accruing as a result of such transfer. This section is significant as it prevents tax evasion through underreporting of sale consideration and ensures that capital gains tax is calculated on a fair market value basis. The burden of proof lies on the taxpayer to challenge the stamp duty valuation if they believe it exceeds the fair market value.