Supreme Court · 2001 INSC 348 · Decided 7 August 2001
Union of India and ANR. v. M/S. Chiranji Estate (P) LTD. and ANR.
- Court
- Supreme Court of India
- Citation
- 2001 INSC 348 · [2001] SUPP. 1 S.C.R. 366
- Case number
- CIVIL APPEAL No. 6053/1998
- Decided
- 7 August 2001
- Bench
- S. RAJENDRA BABU, K.G. BALAKRISHNAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Income Tax Act, 1961. Chapter XX C-Under-statement of value of property-Acquisition of C property by Appropriate Authority-Whether correct-Held, comparison of incomparable properties and non comparison of comparable properties is fallacious-Hence order of appropriate authority rightly set aside by under Chapter XX-C of the Income Tax Ad, 1961 considered the property in question to be under­ valued upon comparison with property situated in another Block. The appropriate authority rejected the contention of the respondents that the value of property in other Blocks was higher compared
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