https://www.taxtmi.com/caselaws?id=63165 Acquisition proceedings under Chapter XX-A required cogent material at initiation to justify the statutory belief that consideration was understated; a mere valuation difference was insufficient, so initiation was invalid. Gazette publication completed only when the Official Gazette became publicly available, and delay beyond the prescribed period meant the proceedings were not validly commenced. An unregistered agreement to sell was not void and retained limited evidentiary value where it was acted upon through subsequent events. For fair market value, the relevant date was the agreement date, with urban land ceiling restrictions, litigation, and genuine comparable sales to be considered in the valuation exercise, leading to a downward adjustment. en-us Fri, 29 Jul 1988 00:00:00 +0530 Fri, 28 Jan 2011 11:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63165 Acquisition proceedings under Chapter XX-A required cogent material at initiation to justify the statutory belief that consideration was understated; a mere valuation difference was insufficient, so initiation was invalid. Gazette publication completed only when the Official Gazette became publicly available, and delay beyond the prescribed period meant the proceedings were not validly commenced. An unregistered agreement to sell was not void and retained limited evidentiary value where it was acted upon through subsequent events. For fair market value, the relevant date was the agreement date, with urban land ceiling restrictions, litigation, and genuine comparable sales to be considered in the valuation exercise, leading to a downward adjustment. Case-Laws Income Tax Fri, 29 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63165