The Government valuer.
The appeals preferred against the said order by the transferor and transferee were allowed by the Income Tax Appellate Tribunal, Chandigarh, and the order of the companypetent authority was set aside mainly on the ground that the numberices under section 269D 2 had been served prior to the publication of the numberice in the official gazette.
on receipt of a reference from the Inspecting Assistant Commissioner, estimated the fair market value of the property at Rs.18,31,000/ .
Feeling aggrieved by the order of Tribunal the Commissioner of Income Tax, preferred an appeal under section 269H of the Act but the same was dismissed by the High Court on 21.7.1999.
The numberices issued under Section 269D 2 of the Act were served upon the transferor and the transferee on 10.10.1980.
The companypetent authority, after hearing the objections, passed orders for acquisition of the property.
Proceedings for acquisition of the property were then initiated in accordance with Chapter XXA of Income Tax Act, 1961 hereinafter referred to as the Act and numberice under section 269D 1 of the Act was published in the official gazette on 15.11.1980.
P. MATHUR,J. This appeal, by special leave has been preferred against the judgment and order dated 21.7.1999 of the High Court of Punjab Haryana by which the appeal preferred by the appellant under Section 269H of Income Tax Act, 1961 against the order dated 16.8.1992 of the Income Tax Appellate Tribunal, Chandigarh, was dismissed.
The respondent M s Pearl Mechanical Engineering Foundry Works Ltd., Ludhiana executed a sale deed of plot number 427, Industrial Area A, Ludhiana in favour of M s. Oswal Woolen Mills Limited for Rs.10,05,000/ on 5.2.1980.
