Compulsory acquisition under Chapter XXA barred where apparent consideration fell below the statutory threshold.

Compulsory acquisition under Chapter XXA was available only where the apparent consideration of the immovable property was Rs. 5 lakhs or more. The Tribunal's view was upheld because the admitted apparent consideration was below that statutory threshold, so the acquisition power could not be exercised on those facts. The challenge accordingly failed, and the assessee succeeded.

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Issues: Whether the power of compulsory acquisition under Chapter XXA could be exercised when the apparent consideration of the immovable property was below Rs. 5 lakhs.

Analysis: The appeals challenged the Tribunal's view that acquisition was not permissible because the apparent consideration was below the statutory threshold. The governing legal position, as reflected in the binding precedents relied upon, was that under Chapter XXA compulsory acquisition could be exercised only where the apparent consideration was Rs. 5 lakhs or more.

Conclusion: The challenge failed, as the acquisition power was unavailable on the admitted facts. The appeals were dismissed, in favour of the assessee.

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