https://www.taxtmi.com/acts?id=3380 The competent authority must give notice and hear objections to proposed acquisition of immovable property, may adjourn and make further inquiry, and must give a written reasoned decision. After hearing and considering all relevant material, the authority may, with prior approval of the Principal Commissioner or Commissioner, order acquisition where the fair market value exceeds the statutory monetary threshold, the fair market value materially exceeds the apparent consideration, and the consideration was not truly stated to evade tax; otherwise the authority must issue a written order that the property will not be acquired. Decisions and orders must be served on transferor, transferee and objectors. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 01 Aug 2025 18:25:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3380 The competent authority must give notice and hear objections to proposed acquisition of immovable property, may adjourn and make further inquiry, and must give a written reasoned decision. After hearing and considering all relevant material, the authority may, with prior approval of the Principal Commissioner or Commissioner, order acquisition where the fair market value exceeds the statutory monetary threshold, the fair market value materially exceeds the apparent consideration, and the consideration was not truly stated to evade tax; otherwise the authority must issue a written order that the property will not be acquired. Decisions and orders must be served on transferor, transferee and objectors. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3380