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of <h1>Clarification on Section 269(c): Property acquisition requires proof of tax evasion, not just value discrepancy over 25%.</h1> The circular clarifies that under Section 269(c) of the Income Tax Act, the competent authority is not automatically required to acquire property if the fair market value exceeds the apparent consideration by more than 25%. It must also be proven that the understatement of consideration was intended to evade taxes or conceal income. Even if the fair market value surpasses the apparent consideration by the specified margin, acquisition is only justified if tax evasion is involved. If the party can demonstrate that the understatement was not for tax evasion, the property cannot be acquired.
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