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2011 (11) TMI 471 - HC - Income TaxPre-emptive purchase u/s 269UD(1) – under-statement of consideration - sale of agreement dated 18.12.94 for 24.19 lacs for sale of flat in “Madhuban” building in Nehru Place, Delhi – order of acquisition on 22.03.1995 – Held that:- In the order dated 22.3.1995, the Appropriate Authority has referred to another sale instance in Chiranjeev Tower, which was not mentioned in the SCN dated 10th March, 1995 and thus was relied upon by the Appropriate Authority for the first time only at the time of hearing. The petitioner was not given any time to rebut or offer any explanation or distinguishing factors in respect of Chiranjeev Tower, Nehru Place. This was a serious lapse and failure on the part of the Appropriate Authority and reliance placed on the said sale instance in the impugned order makes it vulnerable and bad in law. As petitioner had highlighted the difference between the Madhuban Tower and Ansal Tower on ground of age of building, location, floor of flat, amenities, area of flat, date of sale. Appropriate Authority gave marginal adjustment for all the factors. Formula and rational of such adjustment is not stated and cannot be fathomed from the impugned order. In these circumstances, we allow the present writ petition and quash the order dated 22.3.1995 and set aside the said order. See Kailash Suneja Vs. Appropriate Authority (2001 (8) TMI 10 - SUPREME COURT) – Decided in favor of petitioner.
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