Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (10) TMI 289 - HC - Income TaxPetition challenging the order passed by the appropriate authority u/s 269UD(1) and the constitutional validity of rule 48L of ITR, 1962 - irrespective of the fact that the petitioners were put in possession of the flat in question after October 1, 1986, in view of the fact that the petitioners acquired a right in respect of the flat prior to October 1, 1986, the transaction would be clearly covered by the provisions of Chapter XX-A and not XX-C - Without furnishing the particulars of the sale instances set out in the SCN, the appropriate authority could not have passed the impugned order in breach of the principles of natural justice – authority has not given any reasons as to why the sale instance relied upon by the petitioners is not comparable - impugned order cannot be sustained - However rule 48L prescribing time limit for filing statement in Form no. 37I is in conformity and consistent with the provisions of the Act - petition succeeds
|