https://www.taxtmi.com/caselaws?id=14343 Chapter XX-C of the Income-tax Act does not apply to a court sale conducted by public auction, because the sale price is fixed through an open bidding process subject to court approval and the safeguards of Order XXI of the Code of Civil Procedure. In that setting, the undervaluation concern targeted by Chapter XX-C is absent, and the Income-tax authorities cannot override the price determined by the court process. The provision's object is therefore not related to disposal of property through court sale, and the view is consistent with earlier treatment of sales made under court-controlled pricing mechanisms. en-us Thu, 12 Oct 2000 00:00:00 +0530 Wed, 15 Jul 2009 13:00:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14343 Chapter XX-C of the Income-tax Act does not apply to a court sale conducted by public auction, because the sale price is fixed through an open bidding process subject to court approval and the safeguards of Order XXI of the Code of Civil Procedure. In that setting, the undervaluation concern targeted by Chapter XX-C is absent, and the Income-tax authorities cannot override the price determined by the court process. The provision's object is therefore not related to disposal of property through court sale, and the view is consistent with earlier treatment of sales made under court-controlled pricing mechanisms. Case-Laws Income Tax Thu, 12 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14343