https://www.taxtmi.com/caselaws?id=63145 The tribunal found the initiation of acquisition proceedings under Section 269C of the IT Act invalid as the Competent Authority lacked valid material to justify the belief that the fair market value exceeded the apparent consideration by more than 15%. Additionally, the tribunal determined that the fair market value of the property did not exceed the apparent consideration by more than 15%, leading to the quashing of the acquisition order and allowing the appeals. en-us Mon, 30 Jun 1986 00:00:00 +0530 Fri, 28 Jan 2011 10:43:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63145 The tribunal found the initiation of acquisition proceedings under Section 269C of the IT Act invalid as the Competent Authority lacked valid material to justify the belief that the fair market value exceeded the apparent consideration by more than 15%. Additionally, the tribunal determined that the fair market value of the property did not exceed the apparent consideration by more than 15%, leading to the quashing of the acquisition order and allowing the appeals. Case-Laws Income Tax Mon, 30 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63145