DY.COMMNR.OF INCOME TAX,N DELHI&ORS vs EXPRESS TOWERS PVT.LTD.&ORS

The Supreme Court dismissed the appeal against the High Court's decision quashing the acquisition of property under Section 269 UC of the Income Tax Act, 1961. The Court held that the Appropriate Authority's valuation of the property was not justified as it was based on incomparable sale instances, and the fair market value did not significantly exceed the apparent consideration. The Court concluded that the High Court's assessment was correct and did not warrant interference.