https://www.taxtmi.com/caselaws?id=37936 Appeals under Chapter XXA of the Income-tax Act were confined to questions of law, so the Tribunal's factual appreciation would not be disturbed unless perversity was shown. Where the competent authority failed to support the departmental valuation by producing the Valuation Officer, and the Tribunal relied on credible material indicating that the transfer was a distress sale, its preference for that evidence was not irrational or perverse. The acquisition scheme was treated as stringent and quasi-penal because it affected property rights, reinforcing careful scrutiny of the valuation basis. The Tribunal's order setting aside acquisition was therefore sustained. en-us Tue, 20 Jun 1978 00:00:00 +0530 Fri, 02 Apr 2010 12:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37936 Appeals under Chapter XXA of the Income-tax Act were confined to questions of law, so the Tribunal's factual appreciation would not be disturbed unless perversity was shown. Where the competent authority failed to support the departmental valuation by producing the Valuation Officer, and the Tribunal relied on credible material indicating that the transfer was a distress sale, its preference for that evidence was not irrational or perverse. The acquisition scheme was treated as stringent and quasi-penal because it affected property rights, reinforcing careful scrutiny of the valuation basis. The Tribunal's order setting aside acquisition was therefore sustained. Case-Laws Income Tax Tue, 20 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37936