Can sale of prop at low price termed as Undisclosed income

Accordng to me the valuation of the property can not be taken below the Municipal Valuation otherwise it will be case of transfer of property without or inadequate consideration and the income of the property Capital gain or other should be clubbed in the hands of the transferor.

For the purpose of of Capital Gains,

• Sale Consideration is "Value as per Stamp value Authority"
• This is intangible addition by Income Tax Act
• Income Tax Authority cannot consider it as Undisclose Income
• as it is Intangible adfdition
• But if in any year we use that Rs. 5 lakh ( Intangible Addition) for explaining any expenditure in case asked by Income Tax Authority
• then Penalty for Concealment of Income is charged on Rs. 5Lakh in the year in which we explained expenditure.

This as per Proviso of Section 271(1)(c).