1995 (3) TMI 149

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.... along with her husband, Dr. Augustine Komaranchath, purchased 13 cents of land and building at Kadavanthra the value of which was shown in the deed at Rs. 2,88,000 whereas in the proceedings under s. 269C the same was valued at Rs. 3,14,600. In the course of search under s. 132, the actual payment was found to be Rs. 3,88,000. The order under s. 269C was set aside by the Tribunal on the ground th....

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.... was Rs. 3,88,000. From the record it is seen that the market value of Rs. 3,14,600 was subsequently enhanced by the Superintending Engineer of the valuation cell to Rs. 3,84,844. By its order, dt. 17th Dec., 1983 in IT (Acqn.) A. No. 1/Coch/1983 the Tribunal has held as under: "The competent authority had got the property valued by the Executive Engineer of the valuation cell. In his report, d....

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....n area close to a hospital. While gift is voluntary and without consideration or inadequate consideration, things done under dire need cannot be brought within the meaning of gift or deemed gift—a horse for a kingdom. Further, this is not a case where the transfer of the property was made by the assessee; she is only a purchaser of the property— transferee—she has paid for this purchase in a....