https://www.taxtmi.com/caselaws?id=18800 Proceedings for acquisition of immovable property under Chapter XX-A could be initiated only if the statutory conditions in section 269C were supported by material showing both understatement of the apparent consideration and a tax-evasion object. A mere comparison with a single sale instance or a tentative market-rate estimate did not meet that jurisdictional threshold, because it did not connect the transfer price to any design to reduce or evade tax. On the facts noted, the record showed only a valuation comparison, not the essential material required by law, so the initiation was treated as without jurisdiction and the challenge succeeded. en-us Wed, 12 Oct 1994 00:00:00 +0530 Mon, 02 Nov 2009 11:07:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18800 Proceedings for acquisition of immovable property under Chapter XX-A could be initiated only if the statutory conditions in section 269C were supported by material showing both understatement of the apparent consideration and a tax-evasion object. A mere comparison with a single sale instance or a tentative market-rate estimate did not meet that jurisdictional threshold, because it did not connect the transfer price to any design to reduce or evade tax. On the facts noted, the record showed only a valuation comparison, not the essential material required by law, so the initiation was treated as without jurisdiction and the challenge succeeded. Case-Laws Income Tax Wed, 12 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18800