https://www.taxtmi.com/caselaws?id=31519 A compulsory purchase order under Chapter XX-C could not be sustained without a determination of fair market value and proof that the agreed consideration was lower by 15% or more. The sale instances relied on were not properly comparable because the stated disadvantages of the flat, including its location, floor position, absence of sea view, and lack of similar amenities, were not adequately tested. Nearby approved sale instances from the same locality and building were not convincingly distinguished, so the statutory basis for finding undervaluation was absent and the acquisition order was quashed. en-us Mon, 29 Oct 2007 00:00:00 +0530 Sat, 15 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31519 A compulsory purchase order under Chapter XX-C could not be sustained without a determination of fair market value and proof that the agreed consideration was lower by 15% or more. The sale instances relied on were not properly comparable because the stated disadvantages of the flat, including its location, floor position, absence of sea view, and lack of similar amenities, were not adequately tested. Nearby approved sale instances from the same locality and building were not convincingly distinguished, so the statutory basis for finding undervaluation was absent and the acquisition order was quashed. Case-Laws Income Tax Mon, 29 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31519