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2019 (9) TMI 951 - HC - Indian LawsCompulsory Acquisition - Taking over of petitioner's property by the Central Government - pre-emptive purchase under Chapter XX-C, consisting of Sections 269U to 269UO of the Income Tax Act, 1961 as inserted by Finance Act, 1986 - liability of purchaser to pay the pending amount - under-valuation of property or not - HELD THAT:- What prompted the appropriate authority to take action was the fact that apartment No.62-B in Building No.103 on 6th floor which was also located in the same premises and was similarly situated was proposed to be sold for ₹ 20.00 lakh odd and consequently no fault can be found with the finding that as against the market value of ₹ 20.00 lacs, the petitioners were selling the property at a much lesser rate. Liability of purchaser to pay the pending amount - HELD THAT:- The reading of the agreement does not reveal that any liability of the purchaser remained. Petition dismissed - other related applications also dismissed.
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