Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2005 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2005 (9) TMI 51 - BOMBAY HIGH COURTPre-emptive purchase under Chapter XX-C was on the ground that the consideration disclosed in the sale documents fall short of the real market value of the properties.- petitioner submit that amount of apparent consideration in both the petitions, as determined by the competent authority, had not at all been tendered by the Central Government to the parties to Form No. 37-I as was required to be tendered under section 269UF read with section 269UG - in our considered view, the operation of section 269UH of the Act in no way can be arrested. Consequently, the right to purchase exercised by the Central Government stands abrogated with the failure on the part of the Department to pay the amount of apparent consideration. In the result the impugned orders cannot stand the scrutiny of law. The impugned orders are, therefore, liable to be quashed and set aside
|