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<h1>Competent Authorities Must Share Recorded Reasons and Valuation Reports in Property Acquisition Cases per Section 269C(1.</h1> The Board has noted that parties involved in acquisition proceedings of immovable property often request copies of the reasons recorded by Competent Authorities and reports from Valuation Officers. According to the proviso to Section 269C(1) of the Income Tax Act, Competent Authorities must document their reasons for initiating such proceedings. Section 269(L) allows these authorities to refer to Valuation Officers. The Board instructs that these documents should be provided to interested parties upon request, as they pertain to proceedings under Chapter XXA of the Wealth Tax Act, 1957.