https://www.taxtmi.com/caselaws?id=211870 The Court upheld the Competent Authority's decision to initiate acquisition proceedings, finding sufficient grounds for "reason to believe" under Section 269C(1) of the Income-tax Act. The Court deemed the notices issued under Section 269D(2) valid despite procedural defects, citing Section 292B of the Act. Additionally, the Court ruled that serving notices on the society sufficed under Section 269D(2)(b). The Court affirmed the lower authorities' orders, justifying the delay, valuation method, and denial of cross-examination. The appeal was dismissed, with costs not awarded. en-us Mon, 28 Mar 2011 00:00:00 +0530 Sat, 07 Apr 2012 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211870 The Court upheld the Competent Authority's decision to initiate acquisition proceedings, finding sufficient grounds for "reason to believe" under Section 269C(1) of the Income-tax Act. The Court deemed the notices issued under Section 269D(2) valid despite procedural defects, citing Section 292B of the Act. Additionally, the Court ruled that serving notices on the society sufficed under Section 269D(2)(b). The Court affirmed the lower authorities' orders, justifying the delay, valuation method, and denial of cross-examination. The appeal was dismissed, with costs not awarded. Case-Laws Income Tax Mon, 28 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211870