https://www.taxtmi.com/caselaws?id=27411 In Chapter XXA acquisition proceedings, fair market value must be determined on all relevant valuation material, including comparable auction sales in the locality; excluding such evidence because it was not adopted by the departmental valuer is incorrect. A subsequent lower sale cannot by itself displace a higher market value on the relevant date. An unregistered agreement to sell cannot be relied on to explain the gap between apparent consideration and fair market value, because such evidence is barred in these proceedings. The question whether the arrangement involved one transfer or multiple transfers depends on a fresh appraisal of the evidence. en-us Thu, 28 Mar 1985 00:00:00 +0530 Fri, 12 Feb 2010 16:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27411 In Chapter XXA acquisition proceedings, fair market value must be determined on all relevant valuation material, including comparable auction sales in the locality; excluding such evidence because it was not adopted by the departmental valuer is incorrect. A subsequent lower sale cannot by itself displace a higher market value on the relevant date. An unregistered agreement to sell cannot be relied on to explain the gap between apparent consideration and fair market value, because such evidence is barred in these proceedings. The question whether the arrangement involved one transfer or multiple transfers depends on a fresh appraisal of the evidence. Case-Laws Income Tax Thu, 28 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27411