https://www.taxtmi.com/caselaws?id=6027 An order under Chapter XX-C of the Income-tax Act could not be sustained where the finding of undervaluation rested on non-comparable sale instances, inconsistent treatment of the existing building's salvage value, and undisclosed enhancement of that value without a stated factual basis. The Court held that comparison of dissimilar properties is impermissible, and that rejection of material comparables on irrelevant considerations is equally unsustainable. On the record, earlier valuation reports did not support undervaluation, so the High Court was justified in setting aside the acquisition order and the Revenue's challenge failed. en-us Tue, 07 Aug 2001 00:00:00 +0530 Mon, 01 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6027 An order under Chapter XX-C of the Income-tax Act could not be sustained where the finding of undervaluation rested on non-comparable sale instances, inconsistent treatment of the existing building's salvage value, and undisclosed enhancement of that value without a stated factual basis. The Court held that comparison of dissimilar properties is impermissible, and that rejection of material comparables on irrelevant considerations is equally unsustainable. On the record, earlier valuation reports did not support undervaluation, so the High Court was justified in setting aside the acquisition order and the Revenue's challenge failed. Case-Laws Income Tax Tue, 07 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6027