because the Appropriate Authority had not given any finding that the alleged undervaluation was done with a view to evade tax.
4. The learned counsel ... land in question and, therefore, there was no question of any undervaluation.
5. The learned counsel for the petitioners then submitted that the impugned order
because the Appropriate Authority had not given any finding that the alleged undervaluation was done with a view to evade tax.
The learned counsel ... laying down that in order to draw inference of undervaluation, it is necessary to determine first the fair market value of the property in question
Order VII Rule 11 of the CPC on an allegation
of undervaluation of the "specified value" of the subject matter
of the commercial ... While we do not
intend to convey a position of a deliberate
undervaluation being accorded a judicial
imprimatur, we are of the firm opinion that
document exh. 85 is perused, it would be clear that there is undervaluation. Exh. 85 is the copy of exh. 55. In exh. 55, there ... clear that the grievance made by the claimants that the document was undervalued is getting support from an order made by the appropriate authority levying
Chapter XXC can be resorted to only where there is a significant undervaluation of the property. Undervaluation to the extent of 15 per cent ... cases where there is an attempt at tax evasion by significant undervaluation of the immovable property agreed to be sold.
9. Thus, the necessary concomitants
consideration under the agreement has not been shown to be significantly undervalued by more than 15% of its fair market value to take proceedings under ... immovable property. Therefore, for invoking such provision the nexus between the estimated undervaluation and attempt to tax evasion has to be established. The Supreme Court
cases where there is an attempt at tax evasion by significant undervaluation of immovable property agreed to be sold. It was further held that ... cent or more, it may draw a presumption that this undervaluation has been done with a view to evade tax. Of course, such a presumption
provisions of Chapter XX-C. It is nowhere stated that there was undervaluation of the apparent consideration specified in the agreement to sell ... having any material for arriving at the conclusion that there was undervaluation. There is nothing in the show-cause notice to give any indication that
check avoidance and evasion of tax through effecting undervalued transfers of the immovable property. Ordinarily, he contends that, in a broad legal sense, a mortgage ... acquisition of
property but is to check the transfer for undervalued consideration as a means of evading or avoiding tax. The provision operates before
made nor finding recorded by the Appropriate Authority that there was undervaluation in the transaction and with a view to evade payment ... nothing was stated in the orders impugned in the petition that the undervaluation was to the extent of 15 per cent and hence an order
