1979 (3) TMI 34 - HC - Income Tax

Acquisition Of Immovable Property, Appeal To High Court, Income Tax Act, Movable Property, Question Of Law

Summary

The High Court of Madras dismissed the appeals filed under s. 269H of the I.T. Act, 1961, regarding undervaluation in property sale. The Tribunal set aside the acquisition order due to factors like building depreciation, sale price comparison, and distress sale circumstances. The Court found no legal question to challenge the Tribunal's factual findings, thus upholding the Tribunal's decision and dismissing the appeals.