https://www.taxtmi.com/caselaws?id=9077 Chapter XXA of the Income-tax Act was analysed as an anti-evasion measure targeting understatement of consideration in immovable property transfers, concealment of income, and circulation of black money. The scheme was treated as having a broad nexus with article 39(b) and article 39(c), so its acquisition mechanism was sustained under article 31C and, in the alternative, as an acquisition for public purpose under article 31(2). The classification between genuine and non-genuine transactions, and the rebuttable presumptions built into the scheme, were viewed as workable anti-evasion tools rather than hostile discrimination. The relevant transfer event was the registered instrument, and initiation depended on the competent authority having reason to believe based on valuation material. en-us Wed, 19 Dec 1973 00:00:00 +0530 Fri, 19 Jun 2009 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9077 Chapter XXA of the Income-tax Act was analysed as an anti-evasion measure targeting understatement of consideration in immovable property transfers, concealment of income, and circulation of black money. The scheme was treated as having a broad nexus with article 39(b) and article 39(c), so its acquisition mechanism was sustained under article 31C and, in the alternative, as an acquisition for public purpose under article 31(2). The classification between genuine and non-genuine transactions, and the rebuttable presumptions built into the scheme, were viewed as workable anti-evasion tools rather than hostile discrimination. The relevant transfer event was the registered instrument, and initiation depended on the competent authority having reason to believe based on valuation material. Case-Laws Income Tax Wed, 19 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9077