Bombay High Court Quashes Pre-emptive Purchase Order Under Section 269UD(1) of Income Tax Act, 1961 for Lack of Comparable Sale Instance and Failure to Establish 15% Undervaluation. The Appropriate Authority's reliance on a non-comparable sale instance and incorrect computation of fair market value rendered the order unsustainable.
25 Nov 2005The petitioners, owners of an open plot of land in Pune, challenged an order dated February 23, 1995, passed by the Appropriate Authority under Sectio...






