Valuation disparity requires recorded reasons when acquisition proceedings are dropped to justify not adopting Valuation Cell figures. Proceedings under section 269E(1) must not be dropped without detailed, contemporaneous reasons by the IACs (Acq.); orders under section 269F(6) should not be withheld without explanation. If the Valuation Cell's fair market value materially exceeds apparent consideration, the IAC (Acq.) must record specific, sufficient reasons for not adopting that valuation when discontinuing acquisition proceedings to avoid Receipt Audit objections.
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.
Valuation disparity requires recorded reasons when acquisition proceedings are dropped to justify not adopting Valuation Cell figures.
Proceedings under section 269E(1) must not be dropped without detailed, contemporaneous reasons by the IACs (Acq.); orders under section 269F(6) should not be withheld without explanation. If the Valuation Cell's fair market value materially exceeds apparent consideration, the IAC (Acq.) must record specific, sufficient reasons for not adopting that valuation when discontinuing acquisition proceedings to avoid Receipt Audit objections.
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