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TMI Blog1986 (10) TMI 95X X X X Extracts X X X X X X X X Extracts X X X X ..... sed of by this single order. 2. The appellants in the two appeals are purchasers of one shop each which was sold to them by Shri Nathmalji Sethia Charitable Society, Sardar Sahar for Rs. 49,000 each. On the complaint of one Shri Deepachand Dugar, proceeding for acquisition under s. 269F(6) were initiated and according to the IAC (Acq) the shops has been sold at gross under valuation. He therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... actually let out and it is a matter of common knowledge that the value of the shops of which vacant possession can be delivered. In fact, the acquisition proceedings in the present cases were not initiated by the Department, but were started on the complaint of one Shri Deepchand Dugar, who is stated to be son of one of the tenants and it was he who applied for being made a party in the proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee's representative has submitted a huge paper book to justify the circumstances under which the shops were sold for the consideration in question. 4. This apart, this is one of such petty cases where ordinarily acquisition proceedings should not have been taken at all. In this behalf, we may refer to Circular No. 455 dt. 16th May, 1986 (1986) 54 CTR (St) 27, which gives the guidelines regardi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or less and that where acquisition proceedings have been initiated by issue of a notice under sec. 269D, the proceedings will be dropped if the apparent consideration of the immovable property is below Rs. 5 lakhs." 5. It is obvious that the intention of the CBDT and the Finance Department is not to take acquisition proceedings in respect of minor sales, the consideration whereof is not very hi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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