https://www.taxtmi.com/caselaws?id=57032 Acquisition jurisdiction under Chapter XX-A required reliable material supporting a reason to believe that sale consideration was understated and a clear, evidence-based finding that the understatement was intended to reduce or evade tax liability. An Inspector's report was insufficient because it did not establish a site visit or address essential valuation factors, including location, shape, neighbourhood, physical condition and filling costs for depressed plots. Without reliable material and the required finding of tax-evasion intent by either transferor or transferee, the jurisdictional conditions for acquisition were not met; the acquisition order was cancelled. en-us Tue, 22 Nov 1983 00:00:00 +0530 Wed, 08 Dec 2010 10:08:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57032 Acquisition jurisdiction under Chapter XX-A required reliable material supporting a reason to believe that sale consideration was understated and a clear, evidence-based finding that the understatement was intended to reduce or evade tax liability. An Inspector's report was insufficient because it did not establish a site visit or address essential valuation factors, including location, shape, neighbourhood, physical condition and filling costs for depressed plots. Without reliable material and the required finding of tax-evasion intent by either transferor or transferee, the jurisdictional conditions for acquisition were not met; the acquisition order was cancelled. Case-Laws Income Tax Tue, 22 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57032