( 1 ) ). These two appeals under sec. 269-H of the Income tax Act 1961 at the instance of the Commissioner of Income-tax Gujarat II Ahmedabad are directed against the common order of the Income-tax Appellate Tribunal Ahmedabad Branch Ahmedabad of July 25 1975 allowing the two appeals filed by the respective respondent-transferee herein from the order of the Inspecting Assistant Commissioner of Income-tax Acquisition Range-II Ahmedabad passed on January 16 1975 acquiring two industrial sheds of type-A bearing block Nos. 1/3 and 1/4 situate in the Industrial Estate set up by the Baroda Industrial Development Corporation (hereinafter referred to as `bidco for the sake of convenience) under sec. 269 F (6) of the aforesaid Act as the fair market value of the respective shed exceeded the apparent consideration in the respective instrument of transfer of February 5 1973 had not been truly stated with the ulterior object of tax evasion and/or facilitating concealment of income or asssets. Since the questions raised in both these appeals before us are identical and also because the facts and circumstances of both the cases are similar we intend to dispose of these two appeals by this common judgment. In order to appreciate the rival contentions raised in these two appeals before us in proper perspective it would be profitable to set out briefly the nature of the property the history of transfer how the proceedings were initiated by the competent authority; what opportunity of hearing was given to the persons interested-whether known or unknown in course of the proceedings what material was collected and relied upon by the said authority for reaching the conclusion as be did how did he ascertain the fair market value of the properties in question and what influenced him in spelling out the ulterior object of the transferor or transferee in stating the consideration for transfer of the properties and certain other connected relevant developments.

( 2 ) THE two properties with which we are concerned in these two appeals are the two industrial sheds of A-type bearing block Nos. 1/3 and 1 situate in the Industrial Estate of BIDCO in the city of Baroda. These two sheds are standing on the plots of land of S. Nos. 1034 and 1035 respectively each admeasuring 6424 sq. feet having built up structure of 4927 sq. ft out of which pucca structure is occupying a built up area of 2427 sq. ft while temporary structure is occupying 2467 sq. ft. in each of these plots leaving the remaining plot of land open. It should be noted that there is a marginal discrepancy of about 31 feet in the total built up area as compared to the break up of the area of the permanent and temporary structures as given in the order of the Tribunal. The respective respondent-transferee of each of these appeals has paid a consideration of Rs. 29 521 to the transferor M/s Sigil (India) Services Pvt. Ltd. which had its factory in the sheds for manufacturing diesel engines which they shifted to some other area in the city of Baroda with the result that they decided to dispose of the two sheds. The deed of conveyance was executed by and between the principal officer of M/s Sigil (India) Services Pvt. Ltd. and the respective respondent-transferee on February 5 1973 It has been inter alia stated in the respective deed of conveyance that the transferor-Company was the original allottee of the two sheds from BIDCO and consequently purchased the same in pursuance of the ownership scheme of the State Government which prompted BIDCO to sell the sheds to their original allottees and accordingly transferorcompany had acquired the sheds by purchase under the deed of conveyance of August 19 1970 for a consideration of Rs. 19 105 and since the respective transferee was desirous of purchasing the sheds in question in view of their requirement the transferor-Company had agreed to sell the sheds in question with the permission of November 25 1972 accorded by the Board of Directors of