2001 (5) TMI 4

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....BU J.--- By an agreement made on May 21, 1987, property bearing No. B-7/118, Safdarjung Enclave Extension, New Delhi, measuring about 375 sq. metres was offered to be sold for a sum of Rs. 23.50 lakhs. On an application being made in Form No. 37-I before the Appropriate Authority as required under section 269UC of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Appropriate Aut....

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.... instances are of incomparable properties in different areas and the adjustment can arise in cases where there is basic similarity between two properties. However, these reasons appealed to the High Court on challenge made to the order of acquisition and the same was quashed. Hence this appeal by special leave. The High Court in examining the matter has considered the various aspects in true pe....