https://www.taxtmi.com/caselaws?id=71092 The Tribunal concluded that the Competent Authority was not justified in initiating acquisition proceedings under Section 269C of the Income Tax Act as the market value of the property did not exceed the stated consideration by more than 25%. It was held that the Valuation Cell's report should be accepted, and proper deductions for the location and situation of the land should be allowed. The Tribunal canceled the order of the IAC (Acq.) and allowed the appeals. en-us Wed, 24 Dec 1986 00:00:00 +0530 Thu, 21 Apr 2011 12:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71092 The Tribunal concluded that the Competent Authority was not justified in initiating acquisition proceedings under Section 269C of the Income Tax Act as the market value of the property did not exceed the stated consideration by more than 25%. It was held that the Valuation Cell's report should be accepted, and proper deductions for the location and situation of the land should be allowed. The Tribunal canceled the order of the IAC (Acq.) and allowed the appeals. Case-Laws Income Tax Wed, 24 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71092