Ashok Bhan, J.

1. The Commissioner of Income-tax, Haryana, Rohtak, has directed this appeal under Section 269H of the Income-tax Act, 1961, against the order passed by the Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh, whereby the appeal filed by the transferee against the acquisition order passed by the Competent Authority, Rohtak, on March 51, 1979, has been set aside.

2. In pursuance of an agreement of sale dated March 25, 1975, Raja Mechanical Company Private Limited, Sadar Bazar, Delhi, transferor (hereinafter referred to as "the transferor") transferred its free-hold property, namely, a factory shed and land comprising 5,990 square yards situate on Gurgaon-Delhi Road in Village Dudi Khera, Tehsil and District Gurgaon, to Export India Corporation (P.) Limited, New Delhi, transferee (hereinafter referred to as "the transferee"), for a sum of Rs. 1,90,000 by a registered instrument of sale dated May 8/9, 1975. On receipt of information regarding the sale transaction, the matter of determination of the fair market value of the property was referred by the Inspecting Assistant Commissioner (Acquisition) (hereinafter referred to as "the Competent Authority") t