https://www.taxtmi.com/caselaws?id=36551 The Competent Authority's power to initiate acquisition proceedings under Chapter XXA depends on subjective satisfaction formed from relevant objective material showing the statutory conditions in section 269C(1) prima facie. The presumptions and evidentiary rules in section 269C(2) apply only after initiation and cannot be used to justify the initial belief. Section 269E(3) also indicates that proof and contest arise during the proceeding, not before it begins. On the facts, there was no material to show that the stated consideration had not been truly recorded with the requisite object, so the initiation was without jurisdiction and not sustainable. en-us Wed, 08 Aug 1979 00:00:00 +0530 Tue, 23 Mar 2010 11:18:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36551 The Competent Authority's power to initiate acquisition proceedings under Chapter XXA depends on subjective satisfaction formed from relevant objective material showing the statutory conditions in section 269C(1) prima facie. The presumptions and evidentiary rules in section 269C(2) apply only after initiation and cannot be used to justify the initial belief. Section 269E(3) also indicates that proof and contest arise during the proceeding, not before it begins. On the facts, there was no material to show that the stated consideration had not been truly recorded with the requisite object, so the initiation was without jurisdiction and not sustainable. Case-Laws Income Tax Wed, 08 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36551