https://www.taxtmi.com/caselaws?id=18720 A pre-emptive purchase order under Chapter XX-C cannot be sustained unless the statutory understatement threshold is satisfied; where the apparent and discounted consideration did not differ from fair market value by 15 per cent or more, the order was quashed. Territorial jurisdiction was upheld because the notice, order and reply all formed part of the cause of action within the Court's limits, and the availability of another forum did not bar the petition. en-us Mon, 26 Jun 1995 00:00:00 +0530 Sat, 31 Oct 2009 15:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18720 A pre-emptive purchase order under Chapter XX-C cannot be sustained unless the statutory understatement threshold is satisfied; where the apparent and discounted consideration did not differ from fair market value by 15 per cent or more, the order was quashed. Territorial jurisdiction was upheld because the notice, order and reply all formed part of the cause of action within the Court's limits, and the availability of another forum did not bar the petition. Case-Laws Income Tax Mon, 26 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18720