https://www.taxtmi.com/caselaws?id=419003 In pre-emptive purchase proceedings under Chapter XX-C of the Income-tax Act, the affected parties must receive a fair, adequate and effective opportunity to meet the proposed action, including disclosure of the material relied upon. A hearing fixed at the end of the limitation period without supplying valuation and sale-instance documents fails natural justice. Valuation must also rest on relevant considerations: a subsisting tenancy, the property's housing-society structure, mortgage and pending disputes, and comparable tenanted properties where appropriate. The authority cannot disregard these factors or question the legality of the underlying transaction. On the stated reasoning, the purchase order and valuation findings were unsustainable, and relief followed. en-us Thu, 24 Feb 2022 00:00:00 +0530 Fri, 24 Jun 2022 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419003 In pre-emptive purchase proceedings under Chapter XX-C of the Income-tax Act, the affected parties must receive a fair, adequate and effective opportunity to meet the proposed action, including disclosure of the material relied upon. A hearing fixed at the end of the limitation period without supplying valuation and sale-instance documents fails natural justice. Valuation must also rest on relevant considerations: a subsisting tenancy, the property's housing-society structure, mortgage and pending disputes, and comparable tenanted properties where appropriate. The authority cannot disregard these factors or question the legality of the underlying transaction. On the stated reasoning, the purchase order and valuation findings were unsustainable, and relief followed. Case-Laws Income Tax Thu, 24 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419003