Appropriate Authority & Anr vs Ms. Shashi Sehgal & Ors

The Supreme Court held that the Appropriate Authority's valuation of property under Chapter XX-C of the Income Tax Act must consider all relevant factors, including special circumstances surrounding the sale and the comparative value of similar properties. The Court found that the Appropriate Authority ignored significant aspects such as parking space and construction quality, leading to a flawed valuation. Consequently, the High Court's decision to invalidate the Appropriate Authority's order was upheld, and the appeal was dismissed without costs.