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2002 (2) TMI 17 - HC - Income TaxIn the writ petition, the petitioner has questioned the constitutional validity of the provisions of Chapter XX-C of the Act and sought for quashing of the impugned order issued by the authorities – The petitioner is an agreement holder and he negotiated to purchase a property with the fourth respondent who was the owner of site No. 48 situated at 1st A Cross, R.M.V. Extension, Bangalore, which measured 45'x60' for a consideration of Rs. 16,20,000. Under the provisions of Chapter XX-C of the Income-tax Act, Form No. 37-I was filed on April 9,1991, by the parties before the appropriate authority and the appropriate authority on considering the application and finding that the value of the property was below the market value by 15 per cent. proceeded to pass an order of pre-emptive purchase which is now challenged by the petitioner. - I do not find any merit in this writ petition and it is accordingly dismissed.
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