https://www.taxtmi.com/caselaws?id=18705 Sale instances must be truly comparable in material respects before they can support a finding of undervaluation under Chapter XXC. A frontage property with sitting tenants could not be compared with a different property in a distinct zoning category, so the relied-upon instances could not lawfully ground the valuation exercise. Pre-emptive purchase under section 269UD(1) also requires objective material and recorded reasons establishing undervaluation beyond the statutory threshold; mere rejection of the parties' explanations is insufficient. As those requirements were not met, the pre-emptive purchase order was unsustainable and was set aside, with consequential clearance formalities directed to follow. en-us Tue, 25 Jul 1995 00:00:00 +0530 Sat, 31 Oct 2009 15:02:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18705 Sale instances must be truly comparable in material respects before they can support a finding of undervaluation under Chapter XXC. A frontage property with sitting tenants could not be compared with a different property in a distinct zoning category, so the relied-upon instances could not lawfully ground the valuation exercise. Pre-emptive purchase under section 269UD(1) also requires objective material and recorded reasons establishing undervaluation beyond the statutory threshold; mere rejection of the parties' explanations is insufficient. As those requirements were not met, the pre-emptive purchase order was unsustainable and was set aside, with consequential clearance formalities directed to follow. Case-Laws Income Tax Tue, 25 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18705