1995 (11) TMI 56

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..... isputed property was for a consideration of Rs. 25 lakhs. On November 7, 1988, an order was made under section 269UD(1) of the Income-tax Act, 1961, by respondent No. 1 for purchase of the property on an amount equal to the apparent consideration. This order, when challenged in C. W. No. 2636 of 1988 was set aside on February 22, 1993, by following the decision of the Supreme Court in C. B. Gautam .....

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..... d any infirmity therein. The appropriate authority has taken into consideration the sale instance of Flat No. 11-B, which was having approximately same area as that of the flat in question. It was observed that this property is also located in the same complex and can be taken as the best guide for arriving at the fair market value. The appropriate authority also took note of all other relevant fa .....

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