https://www.taxtmi.com/caselaws?id=17074 The Court found that the Appropriate Authority's compulsory purchase of land under s. 269UD of the IT Act lacked proper determination of fair market value, leading to a flawed decision. The reliance on auction sale price alone was criticized, emphasizing the need for objective assessment based on material evidence. The Authority's failure to comply with statutory requirements, including determining fair market value and considering relevant evidence, resulted in the proposed quashment of the order and remand for fresh consideration in line with the law. en-us Thu, 05 Mar 1998 00:00:00 +0530 Tue, 15 Sep 2009 11:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17074 The Court found that the Appropriate Authority's compulsory purchase of land under s. 269UD of the IT Act lacked proper determination of fair market value, leading to a flawed decision. The reliance on auction sale price alone was criticized, emphasizing the need for objective assessment based on material evidence. The Authority's failure to comply with statutory requirements, including determining fair market value and considering relevant evidence, resulted in the proposed quashment of the order and remand for fresh consideration in line with the law. Case-Laws Income Tax Thu, 05 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17074