https://www.taxtmi.com/caselaws?id=57173 The Tribunal found that the IAC (Acquisition) did not fulfill the conditions before acquiring the property under s. 269C, as there was no evidence of intent to evade tax. The acquisition order was deemed erroneous due to a lack of proper application of mind, leading to its vacating. The appeals of all three transferees were allowed, with the Tribunal emphasizing the importance of meeting statutory requirements for acquisition proceedings under the Income Tax Act. en-us Sat, 28 Apr 1984 00:00:00 +0530 Wed, 08 Dec 2010 17:33:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57173 The Tribunal found that the IAC (Acquisition) did not fulfill the conditions before acquiring the property under s. 269C, as there was no evidence of intent to evade tax. The acquisition order was deemed erroneous due to a lack of proper application of mind, leading to its vacating. The appeals of all three transferees were allowed, with the Tribunal emphasizing the importance of meeting statutory requirements for acquisition proceedings under the Income Tax Act. Case-Laws Income Tax Sat, 28 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57173