https://www.taxtmi.com/caselaws?id=57178 Chapter XXA acquisition proceedings can be initiated only if the recorded reasons under section 269C show that understatement of consideration was linked to an object of facilitating tax avoidance or concealment of income or assets. Mere understatement of consideration, without that statutory satisfaction, is insufficient to confer jurisdiction. On that basis, the initiation of acquisition proceedings was held contrary to the prescribed procedure, and the acquisition order could not stand. en-us Sat, 06 Apr 1985 00:00:00 +0530 Wed, 08 Dec 2010 17:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57178 Chapter XXA acquisition proceedings can be initiated only if the recorded reasons under section 269C show that understatement of consideration was linked to an object of facilitating tax avoidance or concealment of income or assets. Mere understatement of consideration, without that statutory satisfaction, is insufficient to confer jurisdiction. On that basis, the initiation of acquisition proceedings was held contrary to the prescribed procedure, and the acquisition order could not stand. Case-Laws Income Tax Sat, 06 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57178