1984 (1) TMI 54

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.... delivered by RAJENDRA NATH MITTAL J.-This is an appeal under s. 269H of the I.T. Act, 1961, by the Commissioner, Patiala, against the order of the Income-tax Appellate Tribunal, Chandigarh Bench, dated July 31, 1976. Briefly, the facts are that Kapil Dev Tayal (hereinafter referred to as the transferor "), purchased plot No. 67, measuring 5333.33 sq. yards, situated in Sector VI, Faridabad,....

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.... purpose of determining the fair market value of the property. The valuation officer valued it at Rs. 2,20,801. After receipt of the report, he initiated proceedings for acquisition of the property under the Act. Notices of the proceedings were served on the transferor as well as on the transferee. The transferor did not file any objections against the acquisition of the property but the transfere....

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....rs 27-A, 27-B, 27-C and 27-D, Faridabad. We have considered the argument of the learned counsel but regret our inability to accept the same. In order to determine the price of the land, the instances of sales should be of similar plots of land in similar locality. Mr. Ashok Bhan has fairly admitted that there is nothing on the record to show as to where the D.L.F. Industrial Estate and Sectors ....