https://www.taxtmi.com/caselaws?id=17261 A development agreement transferring an undivided share in land for composite consideration of cash and future construction was treated as a transfer within Chapter XX-C because the consideration could be valued in money terms, including the value of promised built-up space as on the agreement date. The pre-emptive purchase order was sustained because the authority issued notice, considered objections, and relied on a proximate comparable sale showing substantial undervaluation; the objections based on title deeds, eviction assistance, funding urgency, and later transactions did not rebut the valuation basis or the statutory presumption of intent to evade tax. en-us Mon, 31 Mar 1997 00:00:00 +0530 Mon, 21 Sep 2009 12:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17261 A development agreement transferring an undivided share in land for composite consideration of cash and future construction was treated as a transfer within Chapter XX-C because the consideration could be valued in money terms, including the value of promised built-up space as on the agreement date. The pre-emptive purchase order was sustained because the authority issued notice, considered objections, and relied on a proximate comparable sale showing substantial undervaluation; the objections based on title deeds, eviction assistance, funding urgency, and later transactions did not rebut the valuation basis or the statutory presumption of intent to evade tax. Case-Laws Income Tax Mon, 31 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17261