https://www.taxtmi.com/caselaws?id=22755 The court ruled in favor of the petitioners, finding that the Competent Authority lacked jurisdiction to issue notices under sections 269D(1) and 269L of the Income-tax Act, 1961. The court highlighted the absence of evidence demonstrating that the market value of the property exceeded the stated amount and emphasized the need for clarity on whether any understatement was for tax evasion purposes. The Competent Authority's actions were deemed to be without jurisdiction, leading to the petition being allowed, with costs not awarded. en-us Mon, 06 Aug 1990 00:00:00 +0530 Sat, 12 Dec 2009 17:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22755 The court ruled in favor of the petitioners, finding that the Competent Authority lacked jurisdiction to issue notices under sections 269D(1) and 269L of the Income-tax Act, 1961. The court highlighted the absence of evidence demonstrating that the market value of the property exceeded the stated amount and emphasized the need for clarity on whether any understatement was for tax evasion purposes. The Competent Authority's actions were deemed to be without jurisdiction, leading to the petition being allowed, with costs not awarded. Case-Laws Income Tax Mon, 06 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22755