https://www.taxtmi.com/caselaws?id=5773 Property already vested in the Central Government under Chapter XX-C remained unaffected by the earlier setting aside of the High Court judgment, because that order did not require the matter to start de novo. The authority could issue a fresh notice, hear objections on valuation and deduction, and decide the matter in accordance with the settled principles. The Court found substantial undervaluation with an intention to evade tax and held that the consideration had been tendered in substance, as the transferor accepted payment and delivered possession. The disputed deduction therefore did not invalidate vesting or trigger revestment of the property in the transferor. en-us Thu, 17 Feb 2000 00:00:00 +0530 Sat, 30 Jul 2016 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5773 Property already vested in the Central Government under Chapter XX-C remained unaffected by the earlier setting aside of the High Court judgment, because that order did not require the matter to start de novo. The authority could issue a fresh notice, hear objections on valuation and deduction, and decide the matter in accordance with the settled principles. The Court found substantial undervaluation with an intention to evade tax and held that the consideration had been tendered in substance, as the transferor accepted payment and delivered possession. The disputed deduction therefore did not invalidate vesting or trigger revestment of the property in the transferor. Case-Laws Income Tax Thu, 17 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5773