https://www.taxtmi.com/caselaws?id=17573 For Chapter XX-A acquisition proceedings, the crucial date was the date of registration, not the earlier date of execution, so the chapter applied where registration occurred after commencement. The Department nevertheless failed to establish the statutory conditions for acquisition under section 269C because the fair market value and alleged understatement of consideration were not proved on reliable material; the presumption was rebuttable on the facts. A CBDT circular directing discontinuance of acquisition proceedings below the monetary threshold was held binding and applicable even at the appellate stage. On the overall facts, the acquisition could not be sustained. en-us Thu, 20 Jun 1996 00:00:00 +0530 Wed, 23 Sep 2009 13:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17573 For Chapter XX-A acquisition proceedings, the crucial date was the date of registration, not the earlier date of execution, so the chapter applied where registration occurred after commencement. The Department nevertheless failed to establish the statutory conditions for acquisition under section 269C because the fair market value and alleged understatement of consideration were not proved on reliable material; the presumption was rebuttable on the facts. A CBDT circular directing discontinuance of acquisition proceedings below the monetary threshold was held binding and applicable even at the appellate stage. On the overall facts, the acquisition could not be sustained. Case-Laws Income Tax Thu, 20 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17573