https://www.taxtmi.com/caselaws?id=21125 Circular No. 455 dated 16 May 1986 under Chapter XX-A of the Income-tax Act applied only to acquisition proceedings that were still pending before the competent authority. It directed non-initiation of section 269C proceedings, and dropping of section 269D notices, where the apparent consideration did not exceed the stated limit. Because the acquisition order and the appellate order had already been completed before the circular was issued, there was no pending proceeding to which the circular could attach. The circular was therefore held inapplicable on those facts, and the broader question of its binding force was left undecided. en-us Thu, 08 Oct 1992 00:00:00 +0530 Fri, 20 Nov 2009 12:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21125 Circular No. 455 dated 16 May 1986 under Chapter XX-A of the Income-tax Act applied only to acquisition proceedings that were still pending before the competent authority. It directed non-initiation of section 269C proceedings, and dropping of section 269D notices, where the apparent consideration did not exceed the stated limit. Because the acquisition order and the appellate order had already been completed before the circular was issued, there was no pending proceeding to which the circular could attach. The circular was therefore held inapplicable on those facts, and the broader question of its binding force was left undecided. Case-Laws Income Tax Thu, 08 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21125