9911796707
TMI Blog2016 (3) TMI 874X X X X Extracts X X X X X X X X Extracts X X X X ..... ttached with the Department of Income Tax determined market value of the property transferred as of Rs. 1,20,91,000/-. On basis of the report given by the Departmental Valuation Officer, acquisition proceedings as per provisions of Chapter XX-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act of 1961') were initiated on 15.3.1985. A notice as per Section 269-D of the Act of 1961 was issued and served upon the petitioner after recording necessary reasons. The competent authority by a detailed order dated 16.10.2002 ordered for acquisition of the property in question after taking into consideration the material available on record and after hearing the objections raised by the petitioner. The satisfaction recorded unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its Jaipur Bench giving challenge to the order dated 25.4.2003 also came to be dismissed on 28.3.2011. A Special Leave Petition to Appeal the order passed by the Rajasthan High Court affirming the order dated 25.4.2003 also came to be dismissed by Hon'ble Supreme Court of India on 29.7.2011. A review petition preferred was also dismissed by the Apex Court on 14.8.2012. A Curative Petition then preferred by the petitioner was also dismissed on 23.7.2013. Prior to it, on 8.8.2011 the competent authority called upon the petitioner to hand over and deliver possession of the property and also to receive compensation as per provisions of Section 269-J of the Act of 1961. The society instead of accepting the compensation conveyed to the compe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titutional correctness of the provisions of Section 269-J(1) of the Act of 1961. As per the petitioner the provisions of Section 269-J(1) of the Act of 1961 is in contradiction with the provisions of Section 269-J(4) as that imposes a penalty beyond the legal permissibility. The petitioner has also challenged the levy of penalty being exorbitant and also 'unjust enrichment'. Heard learned counsel. At the threshold we would like to mention that the proceedings under Chapter XX-A of the Act of 1961 were initiated against the petitioner society in the year 1985. The petitioner society participated in the proceedings, raised the objections and a necessary order as per Section 269-F(6) of the Act of 1961 was passed on 16.10.2002. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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