https://www.taxtmi.com/caselaws?id=17929 CBDT Circular No. 455 dated 16.05.1986 was applied to pending departmental appeals under Chapter XX-A of the Income-tax Act, because the earlier Division Bench view treated the circular as covering appeals already pending before the Department. The circular directed that acquisition proceedings should not be initiated, and pending proceedings should be dropped, where the apparent consideration of the property was Rs. 5 lakhs or less. As the apparent value of the properties in all the appeals was undisputedly below that limit, the court applied the circular and dismissed the departmental appeals. en-us Mon, 18 Nov 1996 00:00:00 +0530 Fri, 25 Sep 2009 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17929 CBDT Circular No. 455 dated 16.05.1986 was applied to pending departmental appeals under Chapter XX-A of the Income-tax Act, because the earlier Division Bench view treated the circular as covering appeals already pending before the Department. The circular directed that acquisition proceedings should not be initiated, and pending proceedings should be dropped, where the apparent consideration of the property was Rs. 5 lakhs or less. As the apparent value of the properties in all the appeals was undisputedly below that limit, the court applied the circular and dismissed the departmental appeals. Case-Laws Income Tax Mon, 18 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17929