https://www.taxtmi.com/caselaws?id=69640 CBDT Circular No. 455 issued under section 119 directed that acquisition proceedings already initiated under Chapter XXA, where notice under section 269D had been issued and the apparent consideration was below Rs. 5 lakhs, had to be dropped. The Tribunal treated the circular as binding on the Competent Authority and the Commissioner, and held that prior remand did not take the matter outside its scope because no final acquisition order had been made. On the facts noted, each sale deed reflected Rs. 1,20,000, and the threshold remained unmet, so the acquisition order was quashed. en-us Wed, 11 May 1988 00:00:00 +0530 Mon, 11 Apr 2011 11:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69640 CBDT Circular No. 455 issued under section 119 directed that acquisition proceedings already initiated under Chapter XXA, where notice under section 269D had been issued and the apparent consideration was below Rs. 5 lakhs, had to be dropped. The Tribunal treated the circular as binding on the Competent Authority and the Commissioner, and held that prior remand did not take the matter outside its scope because no final acquisition order had been made. On the facts noted, each sale deed reflected Rs. 1,20,000, and the threshold remained unmet, so the acquisition order was quashed. Case-Laws Income Tax Wed, 11 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69640