TMI Blog1983 (1) TMI 46X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 269G. The facts are these:- Property No. 96, Tagore Town, Allahabad, was transferred on 31st October, 1973, by Hansraj to K. K. Agrawal, son of Rani Prasad Agrawal, and Smt. Prem Kumari Agrawal, wife of Rani Prasad Agrawal. The apparent consideration shown in the sale deed was Rs. 43,500 for the portion transferred to K. K. Agrawal and Rs. 48,500 for the portion transferred to Smt. Prem Kumar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax Appellate Tribunal, Allahabad, being numbered as 20 and 21. These appeals were allowed on December 29, 1975. Being dissatisfied, the Commissioner has preferred these two connected appeals. The learned counsel for the Department contended that the Tribunal was in error in holding that the apparent consideration for the transfer represented the fair market value of the property although the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... committed an error in taking the mean of two methods, land and building and capitalisation. It has been found as a fact that the building in question was not tenanted. Accordingly, the annual value of the property in question could not be found. Not accepting the valuer's report does not appear to be illegal, requiring our interference in these appeals. The opinion of the skilled witnesses or e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d and dilapidated. The area was under process of development and just opposite to this property across the road, there was high embankment for the railway track and the land was water-logged. The disputed property was found to be subject to similar disadvantages. Apart from the above the Tribunal considered the evidence and found that the property could not have been acquired under Chap. XX-A. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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