https://www.taxtmi.com/caselaws?id=36855 For acquisition under Chapter XX-A of the Income-tax Act, fair market value must be assessed by reference to the interest actually and effectively transferred, not a larger or merely purported title. The valuation must reflect all relevant depressing or enhancing factors, including title defects, pending disputes, occupation, tenancy restrictions, property condition, and litigation risk; an estimate ignoring such matters is legally infirm. On notice under section 269D, substantial prior individual service of notice before Gazette publication led the court to treat the publication requirement as directory on the facts, and the procedural objection was rejected. The valuation challenge succeeded and the matter was remitted for fresh adjudication. en-us Mon, 25 Sep 1978 00:00:00 +0530 Thu, 25 Mar 2010 10:33:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36855 For acquisition under Chapter XX-A of the Income-tax Act, fair market value must be assessed by reference to the interest actually and effectively transferred, not a larger or merely purported title. The valuation must reflect all relevant depressing or enhancing factors, including title defects, pending disputes, occupation, tenancy restrictions, property condition, and litigation risk; an estimate ignoring such matters is legally infirm. On notice under section 269D, substantial prior individual service of notice before Gazette publication led the court to treat the publication requirement as directory on the facts, and the procedural objection was rejected. The valuation challenge succeeded and the matter was remitted for fresh adjudication. Case-Laws Income Tax Mon, 25 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36855