https://www.taxtmi.com/acts?id=50105 Chapter XXA empowers a competent authority to initiate acquisition of immovable property when it has reason to believe the fair market value exceeds the apparent consideration and the transfer was intended to facilitate reduction or concealment of taxable income. Proceedings begin with a Gazette notice, service and local publication, and allow prescribed objections and hearings; after Commissioner approval and finalisation through appeal stages, possession vests in the Central Government and compensation equals the apparent consideration plus an additional statutory percentage, subject to adjustments for damage or post-transfer improvements and court determination where disputes arise. en-us Tue, 04 Mar 2025 16:38:18 +0530 Tue, 04 Mar 2025 16:38:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50105 Chapter XXA empowers a competent authority to initiate acquisition of immovable property when it has reason to believe the fair market value exceeds the apparent consideration and the transfer was intended to facilitate reduction or concealment of taxable income. Proceedings begin with a Gazette notice, service and local publication, and allow prescribed objections and hearings; after Commissioner approval and finalisation through appeal stages, possession vests in the Central Government and compensation equals the apparent consideration plus an additional statutory percentage, subject to adjustments for damage or post-transfer improvements and court determination where disputes arise. Act-Rules F. Acts / Amendment Acts Tue, 04 Mar 2025 16:38:18 +0530 https://www.taxtmi.com/acts?id=50105