Understated consideration presumption does not automatically permit property acquisition; acquisition requires a finding of tax-evasion intent. A conclusive presumption arises when fair market value exceeds apparent consideration by the statutory margin that the consideration was not truly stated, but acquisition requires the competent authority to find that the understatement was made with an improper object such as facilitating tax reduction, evasion, or concealment; absent such a finding or where that link is rebutted, the authority cannot acquire the property.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Understated consideration presumption does not automatically permit property acquisition; acquisition requires a finding of tax-evasion intent.
A conclusive presumption arises when fair market value exceeds apparent consideration by the statutory margin that the consideration was not truly stated, but acquisition requires the competent authority to find that the understatement was made with an improper object such as facilitating tax reduction, evasion, or concealment; absent such a finding or where that link is rebutted, the authority cannot acquire the property.
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