https://www.taxtmi.com/caselaws?id=24082 Initiation of statutory acquisition proceedings was upheld because the competent authority had some material, including the sale document and the Inspector's report, to form a bona fide belief; the sufficiency or correctness of that material was not open to reappreciation at the threshold. The conveyance was construed as including the basement area, so the Tribunal's finding on that point was sustained. The valuation methodology was also treated as needing correction, and the Tribunal's remand for fresh valuation in accordance with its directions was left undisturbed, with no question of law arising. en-us Tue, 26 Jul 1988 00:00:00 +0530 Sat, 16 Jan 2010 15:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24082 Initiation of statutory acquisition proceedings was upheld because the competent authority had some material, including the sale document and the Inspector's report, to form a bona fide belief; the sufficiency or correctness of that material was not open to reappreciation at the threshold. The conveyance was construed as including the basement area, so the Tribunal's finding on that point was sustained. The valuation methodology was also treated as needing correction, and the Tribunal's remand for fresh valuation in accordance with its directions was left undisturbed, with no question of law arising. Case-Laws Income Tax Tue, 26 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24082