Rakesh C. Rastogi And Anr. vs Appropriate Authority And Anr.

The Supreme Court set aside the judgment of the Delhi High Court which dismissed the appellants' writ petition challenging the order of the appropriate authority under Chapter XX-C of the Income-tax Act, 1961. The Court held that the appropriate authority failed to adequately consider a comparable sale instance, which was relevant for determining the valuation of the property under Section 269UD of the Income-tax Act. The Court emphasized that the FAR differences cited by the authority were not sufficiently substantiated, leading to an unjust denial of the 'No objection certificate' to the appellants.