https://www.taxtmi.com/caselaws?id=5827 The Supreme Court clarified the interpretation of section 269UA(b) of the Income-tax Act, 1961, in appeals against the High Court of Gujarat's judgment. The Court held that the determination of "apparent consideration" for property transfers should be based on the agreement's consideration, with future payments discounted to their present value as of the agreement date. The Court emphasized that the purpose is to prevent undervaluation in property transfers and upheld this interpretation, dismissing the appeals. en-us Wed, 06 Dec 2000 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5827 The Supreme Court clarified the interpretation of section 269UA(b) of the Income-tax Act, 1961, in appeals against the High Court of Gujarat's judgment. The Court held that the determination of "apparent consideration" for property transfers should be based on the agreement's consideration, with future payments discounted to their present value as of the agreement date. The Court emphasized that the purpose is to prevent undervaluation in property transfers and upheld this interpretation, dismissing the appeals. Case-Laws Income Tax Wed, 06 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5827