Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (9) TMI 515 - HC - Income TaxPurchase of immovable property- The petitioner has challenged the impugned order under section 269UD(1) of the Income-tax Act, 1961 (for short “IT Act”) and all actions arising out of the same. Held that- agreement was executed in the year 1993 whereas sale instance relied upon by the appropriate authority was in 1994 and in a different locality. No copy of any documents relating to the sale instance, even if any, was furnished to the petitioner. There was no material to justify the conclusion that the property had been undervalued. There was no mention that there was any intention to evade tax. Thus, the order of pre-emptive purchase was not valid.
|