TMI Blog1983 (7) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... has challenged notice No. CR 62/8231/76-77 Acq./B, dated 18-7-1977 (Ex. E) issued by the Inspecting Assistant Commissioner of Income-tax, Acquisition Range, Bangalore (hereinafter referred to as" the IAC "), respondent No. 1, purporting to be under s. 269D(1) of the I.T. Act, 1961 ( Central Act 43 of 1961) (hereinafter referred to as " the Act,"). One Smt. Parvathamma and her daughter, Smt. Si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by him. Sri. G. Sarangan, learned counsel for the petitioner, contends that the property acquired by his client was by way of gift and it was not a transfer within the meaning of that term occurring in s. 269A(h) of the Act justifying the initiation of proceedings under Chap. XX-A of the Act and the impugned show-cause notice issued by the IAC is wholly without jurisdiction. Sri. K. Sriniv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovisions of Chap. XX-A of the Act that seriously interfere with the rights of an owner to enjoy his property and provides for compulsory acquisition, have to be strictly construed. Section 269A(h) of the Act defines " transfer " for purposes of Chap. XX-A of the Act as a transfer by way of sale or exchange. A transfer by way of sale or exchange only is considered as a transfer for purposes of C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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