2001 (8) TMI 6

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..... , 1993, the property comprised in A-3, East of Kailash, New Delhi, measuring 306 sq. mts. is agreed to be sold for Rs. 70 lakhs. The Appropriate Authority in exercise of the powers under Chapter XX-C of the Income-tax Act, 1961, considered that there is understatement of value of the property on the basis of that property comprised in E-326, East of Kailash, New Delhi, had been agreed to be sold f .....

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..... q. mts., the sale instance property is measuring about 167 sq. mts.). It is also contended that the value of the properties which are in C, D and E Blocks of East of Kailash, New Delhi, is higher as compared to the value of the property in Block A. The Appropriate Authority rejected the contentions raised on behalf of the seller (respondent herein) and proceeded to order acquisition of the propert .....

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..... as the fact that comparison of incomparable properties is fallacious, non-comparison of comparable properties is equally fallacious. Some other contentions were also advanced on behalf of the Department in this case which are identical to the one raised in C. A. Nos. 6050-51 of 1998 (Appropriate Authority v. Kailash Suneja [2001] 251 ITR 1 ). For the very reasons stated therein, these contentions .....

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