2004 (2) TMI 25

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ority has reached a prima facie or tentative conclusion that the transaction has been undervalued and that there has been an attempt to evade the tax nor do they disclose the material on the basis of which such a tentative conclusion has been reached by the Appropriate Authority - we quash and set aside the show cause notices and the consequent orders passed under section 269UD(1) and hold them t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... raised in both these petitions relates to the validity of the show cause notices dated January 31, 1994, issued by the Appropriate Authority to both the petitioners calling upon them to show cause as to why their properties in question should not be purchased under Chapter XX-C of the Act. The show cause notices referred to herein are incorporated at exhibit H annexed to the petitions, the conten .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... petitioners contends that the aforesaid show cause notices impugned in these petitions are vague and contrary to the law laid down by the Supreme Court in the case of C.B. Gautam v. Union of India [1993] 199 ITR 530, followed by the Division Bench of this court in the judgments delivered in the case of Mrs. Nirmal Laxminarayan Grover v. Appropriate Authority [1997] 223 ITR 572 and Jagdish Eletron .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... stice. It is also brought to our notice that the said judgment of the Division Bench of this court in the case of Jagdish Electronics (India) Pvt. Ltd. [2000] 242 ITR 326 has been affirmed by the apex court in the case of Appropriate Authority of Income-tax v. Jagdish Electricians India P. Ltd. [2003] 264 ITR 468. Learned counsel for the petitioners thus submits that the impugned notices and the c .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... R 326 which was ultimately, quashed and set aside by the Division Bench of this court and affirmed by the apex court. In this view of the matter, for the reasons recorded in the case of Jagdish Electricians India P. Ltd. [2003] 264 ITR 468 (SC), we quash and set aside the show cause notices and the consequent orders passed under section 269UD(1) and hold them to be bad, illegal and in breach of th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X