9911796707
TMI Blog2003 (8) TMI 21X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of the court was delivered by V.K. BALI J.-By this common order, we propose to dispose of six connected income-tax appeals bearing Nos. 1 to 6 of 1990, as common questions of law and fact are involved in all these appeals. The bare minimum facts that need a necessary mention here, however, have been extracted from Appeal No. 1 of 1990 titled Commissioner of Income-tax, Haryana, Rohtak v. M/s. Unitech Builder (P.) Ltd., 6-Community Centre, Saket, New Delhi. This appeal has been filed under section 269H of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), against the order of the Income-tax Appellate Tribunal, Delhi Branch "A", New Delhi, whereby the property under acquisition has been released by the said Tribunal vide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eeding one hundred thousand rupees; (b) the fair market value of such property exceeds the apparent consideration therefor by more than fifteen per cent of such apparent consideration; and (c) the consideration for such transfer as agreed to between the parties has not been truly stated in the instrument of transfer with such object as is referred to in clause (a) or clause (b) of sub-section (1) of section 269C. Being aggrieved by the order aforesaid, the assessee filed an appeal before the learned Income-tax Appellate Tribunal, which has since been allowed vide impugned order dated May 21, 1990. It is not disputed that the Deputy Commissioner of Income-tax passed the order, the subject matter of appeal before the Tribunal, on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rent consideration. This gives a difference of 70.9% between the F.M.V. and the apparent consideration." It has further been noticed in the appellate order that the Deputy Commissioner of Income-tax determined the rates on the basis of valuation determined in GRG 418/85-86 and GRG 419/85-86. In these two matters, the proceedings were dropped by the competent authority itself. Once, the matters, on the basis of which orders were passed in the present case by the Deputy Commissioner, were dropped, the very basis of the impugned order challenged before the Tribunal, ceased to exist. That apart, it could not be disputed, during the course of arguments, that the case could not be based exclusively upon the report of the GVO. The Tribunal has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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