https://www.taxtmi.com/caselaws?id=17847 A compulsory purchase order under Chapter XX-C was unsustainable because the competent authority did not record a reasoned and objective finding that the apparent consideration was understated by more than the statutory threshold. The authority relied on sale instances and a valuation exercise without clearly explaining how the fair market value was fixed, and the materials did not support undervaluation of over 15 per cent. The clarification on the terrace and absence of balance FSI further undermined the valuation basis. The Bombay HC held that such an unreasoned and arbitrary exercise disclosed non-application of mind, and the order was set aside. en-us Wed, 05 Jun 1996 00:00:00 +0530 Fri, 25 Sep 2009 11:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17847 A compulsory purchase order under Chapter XX-C was unsustainable because the competent authority did not record a reasoned and objective finding that the apparent consideration was understated by more than the statutory threshold. The authority relied on sale instances and a valuation exercise without clearly explaining how the fair market value was fixed, and the materials did not support undervaluation of over 15 per cent. The clarification on the terrace and absence of balance FSI further undermined the valuation basis. The Bombay HC held that such an unreasoned and arbitrary exercise disclosed non-application of mind, and the order was set aside. Case-Laws Income Tax Wed, 05 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17847