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2003 (5) TMI 25 - HC - Income TaxPetitioners pray for quashing of an order passed by the appropriate authority under Chapter XX-C and a direction to the said authority to grant "no objection certificate" under section 269UL(3) - On a statement being filed under section 269UC of the Act, the appropriate authority has two options available to it, namely, (i) either to purchase a property by exercising the right of preemptive purchase by making an order under section 269UD; or (ii) if it is not inclined to purchase the property, to issue a "no objection certificate". It has no third option – Thus it is held that, it cannot also go into the question of validity of the agreement to transfer the property or the legality of the transaction or the title of the vendor – Petition is allowed
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