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2012 (2) TMI 123 - DELHI HIGH COURTPre-emptive purchase u/s 269UD allocation of residential plot on 24.02.94 Assignee of letter of allocation entering into agreement with builders for development of plot on 12.06.96 Revenue contending evaluation of FMV of property on the date when form 37-I was filed i.e. 25.08.2000 petitioner contending for evaluation on date of agreement Held that:- Division Bench in the order dated 18.10.2010 while remitting matter back observed that the private agreement can be looked into by the Appropriate Authority. From the past history of transaction it is obvious that the parties had contracted on the basis of the then prevailing market rate of land. Moreover, this sale consideration is comparable with other instances in which the Appropriate Authority had granted the permission/No Objection Certificate during the relevant period. Therefore, condition stipulated in Section 269UD of difference being more than 15% between the fair market value and the apparent sale consideration is not satisfied. Hence, impugned order is set aside and direction is issued to Appropriate authority to grant permission/No Objection Certificate within stipulated time. See DLF Universal Ltd (2000 - TMI - 5795 - SUPREME Court) Decided in favor of petitioner.
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