PURCHASE BY CENTRAL GOVERNMENT OF IMMOVABLE
PROPERTIES IN CERTAIN CASES OF TRANSFER
269U. The
provisions of this Chapter shall come into force on such date as the Central Government
may, by notification35[2] in the Official Gazette, appoint, and
different dates may be appointed for different areas.
269UA. In
this Chapter, unless the context otherwise requires,—
(a) “Agreement for
transfer” means an agreement, whether registered under the Registration Act,
1908 (16 of 1908) or not, for the transfer of any immovable property;
(b) “Apparent
consideration”,—
(1) in relation to
any immovable property in respect of which an agreement for transfer is made,
being immovable property of the nature referred to in sub-clause (i) of clause (d), means,—
(i) if the immovable property is to be transferred by way of
sale, the consideration for such transfer as specified in the agreement for
transfer ;
(ii) if the immovable property is to be transferred by way of
exchange,—
(A) in a case where
the consideration for the transfer consists of a thing36[3] or things only, the price that such thing or
things would ordinarily fetch on sale in the open market on the date on which
the agreement for transfer is made ;
(B) in a case where
the consideration for the transfer consists of a thing or things and a sum of
money, the aggregate of the price that such thing or things would ordinarily
fetch on sale in the open market on the date on which the agreement for
transfer is made, and such sum ;
(iii) if the immovable property is to be transferred by way of
lease,—
(A) In a case where
the consideration for the transfer consists of premium only, the amount of
premium as specified in the agreement for transfer;
(B) in a case where
the consideration for the transfer consists of rent only, the aggregate of the
moneys (if any) payable by way of rent and the amounts for the service or
things forming part of or constituting the rent, as specified in the agreement
for transfer ;
(C) in a case where
the consideration for the transfer consists of premium and rent, the aggregate
of the amount of the premium, the moneys (if any) payable by way of rent and
the amounts for the service or things forming part of or constituting the rent,
as specified in the agreement for transfer, and
where the whole or any part of the consideration for such transfer is payable
on any date or dates falling after the date of such agreement for transfer, the
value of the consideration payable after such date shall be deemed to be the
discounted value37[4] of such consideration, as on the date of such
agreement for transfer, determined by adopting such rate of interest as may be
prescribed in this behalf ;
(2) in
relation to any immovable property in respect of which an agreement for
transfer is made, being immovable property of the nature referred to in
sub-clause (ii) of clause (d), means,—
(i) In a case where
the consideration for the transfer consists of a sum of money only, such sum;
(ii) in
a case where the consideration for the transfer consists of a thing or things
only, the price that such thing or things would ordinarily fetch on sale in the
open market on the date on which the agreement for transfer is made ;
(iii) in
a case where the consideration for the transfer consists of a thing or things
and a sum of money, the aggregate of the price that such thing or things would
ordinarily fetch on sale in the open market on the date on which the agreement
for transfer is made, and such sum, and
where the whole or any part of the consideration for such transfer is payable
on any date or dates falling after the date of such agreement for transfer, the
value of the consideration payable after such date shall be deemed to be the
discounted value38[5] of such consideration, as on the date of such
agreement for transfer, determined by adopting such rate of interest as may be
prescribed in this behalf ;
39[6] (c) “appropriate authority” means an
authority constituted under section 269UB to perform the functions of an
appropriate authority under this Chapter;
(d) “Immovable
property” means—
(i) any
land or any building or part of a building, and includes, where any land or any
building or part of a building is to be transferred together with any
machinery, plant, furniture, fittings or other things, such machinery, plant,
furniture, fittings or other things also.
Explanation.—For the purposes of this sub-clause, “land, building, part
of a building, machinery, plant, furniture, fittings and other things” include
any rights therein;
(ii) any
rights in or with respect to any land or any building or a part of a building
(whether or not including any machinery, plant, furniture, fittings or other
things therein) which has been constructed or which is to be constructed,
accruing or arising from any transaction (whether by way of becoming a member
of, or acquiring shares in, a co-operative society, company or other association
of persons or by way of any agreement or any arrangement of whatever nature),
not being a transaction by way of sale, exchange or lease of such land,
building or part of a building ;
(e) “person
interested”40[7] , in relation to any immovable property,
includes all persons claiming, or entitled to claim, an interest in the
consideration payable on account of the vesting of that property in the Central
Government under this Chapter ;
(i) in relation to
any immovable property referred to in sub-clause (i) of clause (d),
means transfer of such property by way of sale or exchange or lease for a term
of not less than twelve years, and includes allowing the possession of such
property to be taken or retained in part performance of a contract of the
nature referred to in section 53A41[9] of the Transfer of Property Act, 1882 (4 of
1882).
Explanation.—For the purposes of this sub-clause, a lease
which provides for the extension of the term thereof by a further term or terms
shall be deemed to be a lease for a term of not less than twelve years, if the
aggregate of the term for which such lease is to be granted and the further
term or terms for which it can be so extended is not less than twelve years;
(ii) in relation to
any immovable property of the nature referred to in sub-clause (ii) of clause (d), means the doing of anything
(whether by way of admitting as a member of or by way of transfer of shares in
a co-operative society or company or other association of persons or by way of
any agreement or arrangement or in any other manner whatsoever) which has the
effect of transferring, or enabling the enjoyment of, such property.
269UB. (1) The
Central Government may, by order, publish in the Official Gazette,—
(a) Constitute as many appropriate
authorities, as it thinks fit, to perform the functions of an appropriate
authority under this Chapter; and
(b) Define the local limits within
which the appropriate authorities shall perform their functions under this Chapter.
(2) An appropriate authority shall consist of three persons, two
of whom shall be members of the Indian Income-tax Service, Group A, holding the
post of Commissioner of Income-tax or any equivalent or higher post, and one
shall be a member of the Central Engineering Service, Group A, holding the post
of Chief Engineer or any equivalent or higher post.
(3) In respect of any function to be performed by an appropriate
authority under any provision of this Chapter in relation to any immovable
property referred to in section 269UC, the appropriate authority referred to
therein shall,—
(a) In a case where
such property is situate within the local limits of
the jurisdiction of only one appropriate authority, be suchappropriateauthority;
(b) in a case where such property is situate within the local
limits of the jurisdiction of two or more appropriate authorities, be the
appropriate authority empowered to perform such functions in relation to such
property in accordance with the rules42[10]
made in this behalf by the Board under section 295.
Explanation.—For the purposes of this sub-section,
immovable property being rights of the nature referred to in sub-clause (ii) of clause (d) of section 269UA in, or with
respect to, any land or any building or part of a building which has been
constructed or which is to be constructed shall be deemed to be situate at the
place where the land is situate or, as the case may
be, where the building has been constructed or is to be constructed.
Restrictions on transfer of immovable property.
269UC. (1) Notwithstanding
anything contained in the Transfer of Property Act, 1882 (4 of 1882), or in any
other law for the time being in force, 43[11] [no
transfer of any immovable property in such area and of such value exceeding
five lakh rupees, as may be prescribed44[12] ],
shall be effected except after an agreement for transfer is entered into
between the person who intends transferring the immovable property (hereinafter
referred to as the transferor) and the person to whom it is proposed to be
transferred (hereinafter referred to as the transferee) in accordance with the
provisions of sub-section (2) at least 45[13] [four]
months before the intended date of transfer.
(2) The agreement referred to in sub-section
(1) shall be reduced to writing in the form of a statement by each of the
parties to such transfer or by any of the parties to such transfer acting on
behalf of himself and on behalf of the other parties.
46[14] (3) Every
statement referred to in sub-section (2) shall,—
(i) be in the prescribed form ;
(ii) set forth such particulars as may be prescribed ; and
(iii) be verified in the prescribed manner,
and shall
be furnished to the appropriate authority in such manner and within such time
as may be prescribed, by each of the parties to such transaction or by any of
the parties to such transaction acting on behalf of himself and on behalf of
the other parties.
47[15] [(4)
Where it is found that the
statement referred to in sub-section (2) is defective, the appropriate
authority may intimate the defect to the parties concerned and give them an
opportunity to rectify the defect within a period of fifteen days from the date
of such intimation or within such further period which, on an application made
in this behalf, the appropriate authority may, in its discretion, allow and if
the defect is not rectified within the said period of fifteen days, or as the
case may be, the further period so allowed, then, notwithstanding anything
contained in any other provision of this Chapter, the statement shall be deemed
never to have been furnished.]
Order by appropriate authority for purchase by Central
Government of immovable property.
269UD. (1) 48[16] Subject to the provisions of
sub-sections (1A) and (1B), the appropriate authority], after the receipt of
the statement under sub-section (3) of section 269UC in respect of any
immovable property, may, notwithstanding anything contained in any other law or
any instrument or any agreement for the time being in force, 49[17] [* *
*] make an order for the purchase by the Central Government of such immovable
property at an amount equal to the amount of apparent consideration
:
Provided that no such order shall be made in respect of any immovable property
after the expiration of a period of two months from the end of the month in
which the statement referred to in section 269UC in respect of such property is
received by the appropriate authority:
50[18] [Provided
further that where the statement referred to in section 269UC in respect of
any immovable property is received by the appropriate authority on or after the
1st day of June, 1993, the provisions of the first proviso shall have effect as
if for the words “two months”, the words “three months” had been substituted :]
51[19] [Provided
also that the period of limitation referred to in the second proviso shall
be reckoned, where any defect as referred to in sub-section (4) of section
269UC has been intimated, with reference to the date of receipt of the
rectified statement by the appropriate authority :]
Provided 52[20] [also]
that in a case where the statement referred to in section 269UC in respect of the
immovable property concerned is given to an appropriate authority, other than
the appropriate authority having jurisdiction in accordance with the provisions
of section 269UB to make the order referred to in this sub-section in relation
to the immovable property concerned, the period of limitation referred to in 53[21] [the
first and second provisos] shall be reckoned with reference to the date of
receipt of the statement by the appropriate authority having jurisdiction to
make the order under this sub-section :
54[22] [Provided
also that the period of limitation referred to in the second proviso shall
be reckoned, where any stay has been granted by any court against the passing
of an order for the purchase of the immovable property under this Chapter, with
reference to the date of vacation of the said stay.]
55[23] (1A)
Before making an order under sub-section (1), the
appropriate authority shall give a reasonable opportunity of being heard to the
transferor, the person in occupation of the immovable property if the
transferor is not in occupation of the property, the transferee and to every
other person whom the appropriate authority knows to be interested56[24] in
the property.
(1B) Every order made by the appropriate
authority under sub-section (1) shall specify the grounds on which it is made.]
(2) The appropriate authority shall cause a copy of its order
under sub-section (1) in respect of any immovable property to be served on the
transferor, the person in occupation of the immovable property if the transferor
is not in occupation thereof, the transferee, and on every other person whom
the appropriate authority knows to be interested in the property.
Vesting of property in Central Government.
269UE. (1) Where
an order under sub-section (1) of section 269UD is made by the appropriate
authority in respect of an immovable property referred to in sub-clause (i) of clause (d) of section 269UA, such property shall, on the date of such
order, vest in the Central Government 57[25] [in
terms of the agreement for transfer58[26] referred to in sub-section (1) of section
269UC] :
59[27] Provided that where the appropriate authority, after
giving an opportunity of being heard to the transferor, the transferee or other
persons interested in the said property, under sub-section (1A) of section
269UD, is of the opinion that any encumbrance on the property or leasehold
interest specified in the aforesaid agreement for transfer is so specified with
a view to defeat the provisions of this Chapter, it may, by order, declare such
encumbrance or leasehold interest to be void and thereupon the aforesaid
property shall vest in the Central Government free from such encumbrance or
leasehold interest.]
(2) The transferor or any other person who may be in possession of
the immovable property in respect of which an order under sub-section (1) of
section 269UD is made, shall surrender or deliver possession thereof to the
appropriate authority or any other person duly authorised by the appropriate
authority in this behalf within fifteen days of the service of such order on
him:
59[28] Provided that the provisions of this sub-section and
sub-sections (3) and (4) shall not apply where the person in possession of the
immovable property, in respect of which an order under sub-section (1) of section
269UD is made, is a bona fide
holder of any encumbrance on such property or a bona fide lessee of such property, if the said encumbrance or
lease has not been declared void under the proviso to sub-section (1) and such
person is eligible to continue in possession of such property even after the
transfer in terms of the aforesaid agreement for transfer.]
(3) If any person refuses or fails to comply with the provisions
of sub-section (2), the appropriate authority or other person duly authorised
by it under that sub-section may take possession of the immovable property and
may, for that purpose, use such force as may be necessary.
(4) Notwithstanding anything contained in sub-section (2), the
appropriate authority may, for the purpose of taking possession of any property
referred to in sub-section (1), requisition the services of any police officer
to assist him and it shall be the duty of such officer to comply with such
requisition.
(5) For the removal of doubts, it is hereby declared that nothing
in this section shall operate to discharge the transferor or any other person
(not being the Central Government) from liability in respect of any
encumbrances on the property and, notwithstanding anything contained in any
other law for the time being in force, such liability may be enforced against
the transferor or such other person.
(6) Where an order under sub-section (1) of section 269UD is made
in respect of an immovable property, being rights of the nature referred to in
sub-clause (ii) of clause (d) of section 269UA, such order shall have the effect of—
(a) Vesting such
right in the Central Government; and
(b) Placing the
Central Government in the same position in relation to such rights as the
person in whom such a right would have continued to vest if such order had not
been made.
(7) Where any rights in respect of any immovable property, being
rights in, or with respect to, any land or any building or part of a building
which has been constructed or which is to be constructed, have been vested in
the Central Government under sub-section (6), the provisions of sub-sections
(1), (2), (3) and (4) shall, so far as may be, have effect as if the references
to immovable property therein were references to such land or building or part
thereof, as the case may be.
Consideration for purchase of immovable property by Central
Government.
269UF. (1) Where
an order for the purchase of any immovable property by the Central Government
is made under sub-section (1) of section 269UD, the Central Government shall
pay, by way of consideration for such purchase, an amount equal to the amount
of the apparent consideration.
(2) Notwithstanding
anything contained in sub-section (1), where, after the agreement for the
transfer of the immovable property referred to in that sub-section has been
made but before the property vests in the Central Government under section
269UE, the property has been damaged (otherwise than as a result of normal wear
and tear), the amount of the consideration payable under that sub-section shall
be reduced by such sum as the appropriate authority, for reasons to be recorded
in writing, may by order determine.
Payment or deposit of consideration.
269UG. (1) The
amount of consideration payable in accordance with the provisions of section
269UF shall be tendered to the person or persons entitled thereto, within a
period of one month from the end of the month in which the immovable property
concerned becomes vested in the Central Government under sub-section (1), or,
as the case may be, sub-section (6), of section 269UE :
Provided that if any liability for any tax or any other sum remaining payable
under this Act, the Wealth-tax Act, 1957 (27 of 1957), the Gift-tax Act, 1958
(18 of 1958), the Estate Duty Act, 1953 (34 of 1953), or the Companies
(Profits) Surtax Act, 1964 (7 of 1964), by any person entitled to the
consideration payable under section 269UF, the appropriate authority may, in
lieu of the payment of the amount of consideration, set off the amount of
consideration or any part thereof against such liability or sum, after giving
an intimation in this behalf to the person entitled to the consideration.
(2) Notwithstanding anything contained in sub-section (1), if any
dispute arises as to the apportionment of the amount of consideration amongst
persons claiming to be entitled thereto, the Central Government shall deposit
with the appropriate authority the amount of consideration required to be
tendered under sub-section (1) within the period specified therein.
(3) Notwithstanding anything contained in sub-section (1), if the
person entitled to the amount of consideration does not consent to receive it,
or if there is any dispute60[29] as
to the title60[30] to
receive the amount of consideration, the Central Government shall deposit with
the appropriate authority the amount of consideration required to be tendered
under sub-section (1) within the period specified therein :
Provided that nothing herein contained shall affect the liability of any person
who may receive the whole or any part of the amount of consideration for any
immovable property vested in the Central Government under this Chapter to pay
the same to the person lawfully entitled thereto.
(4) Where any amount of consideration has been deposited with the
appropriate authority under this section, the appropriate authority may, either
of its own motion or on an application made by or on behalf of any person
interested or claiming to be interested in such amount, order the same to be
invested in such Government or other securities as it may think proper, and may
direct the interest or other proceeds of any such investment to be accumulated
and paid in such manner as will, in its opinion, give the parties interested
therein the same benefits therefrom as they might have had from the immovable
property in respect whereof such amount has been deposited or as near thereto
as may be.
Re-vesting of property in the transferor on failure of payment
or deposit of consideration.
269UH. (1)
If the Central Government fails to tender under sub-section (1) of section
269UG or deposit under sub-section (2) or sub-section (3) of the said section,
the whole or any part of the amount of consideration required to be tendered or
deposited thereunder within the period specified therein in respect of any
immovable property which has vested in the Central Government under sub-section
(1) or, as the case may be, sub-section (6) of section 269UE, the order to
purchase the immovable property by the Central Government made under
sub-section (1) of section 269UD shall stand abrogated and the immovable
property shall stand re-vested in the transferor after the expiry of the aforesaid
period :
Provided that where any dispute referred to in sub-section (2) or sub-section
(3) of section 269UG is pending in any court for decision, the time taken by
the court to pass a final order under the said sub-sections shall be excluded
in computing the said period.
(2) Where an order made under sub-section (1) of section 269UD
is abrogated and the immovable property re-vested in the transferor under
sub-section (1), the appropriate authority shall make, as soon as may be, a
declaration in writing to this effect and shall—
(a) deliver a copy of the declaration to the persons mentioned
in sub-section (2) of section 269UD ; and
(b) deliver or cause to be delivered possession of the immovable
property back to the transferor, or, as the case may be, to such other person
as was in possession of the property at the time of its vesting in the Central
Government under section 269UE.
Powers of the appropriate authority.
269UI. The
appropriate authority shall have, for the purposes of this Chapter, all the
powers that a 61[31] [Chief
Commissioner or Commissioner] of Income-tax has for the purposes of this Act
under section 131.
269UJ. With
a view to rectifying any mistake apparent from the record, the appropriate
authority may amend any order made by it under this Chapter, either on its own
motion or on the mistake being brought to its notice by any person affected by
the order:
Provided that if any such amendment is likely to affect any person
prejudicially, it shall not be made without giving to such person a reasonable
opportunity of being heard :
Provided further that no amendment shall be made under this
section after the expiry of six months from the end of the month in which the
order sought to be amended was made.
269UK. (1) Notwithstanding
anything contained in any other law for the time being in force, no person
shall revoke or alter an agreement for the transfer of an immovable property or
transfer such property in respect of which a statement has been furnished under
section 269UC unless,—
(a) the appropriate
authority has not made an order for the purchase of the immovable property by
the Central Government under section 269UD and the period specified for the
making of such order has expired ; or
(b) in a case where
an order for the purchase of the immovable property by the Central Government
has been made under sub-section (1) of section 269UD, the order stands
abrogated under sub-section (1) of section 269UH.
(2) Any transfer of any immovable property made in contravention
of the provisions of sub-section (1) shall be void.
Restrictions on registration, etc., of documents in respect of
transfer of immovable property.
269UL. (1) Notwithstanding
anything contained in any other law for the time being in force, no registering
officer appointed under the Registration Act, 1908 (16 of 1908), shall register
any document which purports to transfer immovable property exceeding the value
prescribed under section 269UC unless a certificate from the appropriate
authority that it has no objection to the transfer of such property for an
amount equal to the apparent consideration therefor as stated in the agreement
for transfer of the immovable property in respect of which it has received a
statement under sub-section (3) of section 269UC, is furnished along with such
document.
(2) Notwithstanding anything contained in any other law for the
time being in force, no person shall do anything or omit to do anything which
will have the effect of transfer of any immovable property unless the
appropriate authority certifies that it has no objection to the transfer of
such property for an amount equal to the apparent consideration therefor as
stated in the agreement for transfer of the immovable property in respect of
which it has received a statement under sub-section (3) of section 269UC.
(3) In a case where the appropriate authority does not make an
order under sub-section (1) of section 269UD for the purchase by the Central
Government of an immovable property, or where the order made under sub-section
(1) of section 269UD stands abrogated under sub-section (1) of section 269UH,
the appropriate authority shall issue a certificate of no objection referred to
in sub-section (1) or, as the case may be, sub-section (2) and deliver copies
thereof to the transferor and the transferee.
Immunity to transferor against claims of transferee for
transfer.
269UM. Notwithstanding
anything contained in any other law or in any instrument or any agreement for the
time being in force, when an order for the purchase of any immovable property
by the Central Government is made under this Chapter, no claim by the
transferee shall lie against the transferor by reason of such transfer being
not in accordance with the agreement for the transfer of the immovable property
entered into between the transferor and transferee:
Provided that nothing contained in this section shall apply if the order for the
purchase of the immovable property by the Central Government is abrogated under
sub-section (1) of section 269UH.
Order of appropriate authority to be final and conclusive.
269UN. Save
as otherwise provided in this Chapter, any order made under sub-section (1) of
section 269UD or any order made under sub-section (2) of section 269UF shall be
final and conclusive and shall not be called in question in any proceeding
under this Act or under any other law for the time being in force.
Chapter not to apply to certain transfers.
269UO. The
provisions of this Chapter shall not apply to or in relation to any immovable
property where the agreement for transfer of such property is made by a person
to his relative on account of natural love and affection, if a recital to that
effect is made in the agreement for transfer.]
62[32] Chapter not to apply where transfer of
immovable property effected after certain date.
269UP. The provisions of this Chapter shall not apply
to, or in relation to, the transfer of any immovable property effected on or
after the 1st day of July, 2002.]
[1]Chapter XX-C, consisting of sections 269U to 269UO, inserted by the Finance Act, 1986, w.e.f. 1-10-1986, vide Notification No. SO 480(E), dated 7-8-1986
[4]Rate of interest for determination of discounted value is 8 per cent per annum vide rule 48-I
[5]Rate of interest for determination of discounted values is 8 per cent per annum vide rule 48-I.
[6]See rule 48J.
[7]For the meaning of the terms/expressions “person interested” and “transfer”
[8]For the meaning of the terms/expressions “person interested” and “transfer”
[9]For text of section 53A of the Transfer of Property Act, see Appendix One
[10] See rule 48J.
[11]Substituted for “no transfer of any immovable property of such value exceeding five lakh rupees as may be prescribed” by the Finance Act, 1995, w.e.f. 1-7-1995
[12]Rule 48K provides that the value of any immovable
property for the purposes of section 269UC(1) shall
be, where the agreement for transfer prescribed under the said sub-section—
(a) is entered into on or before 31-7-1995,
the apparent consideration of that property exceeding Rs. 10 lakhs ;
(b) is entered into after 31-7-1995, the
apparent consideration of the property exceeding the amounts given in Table :
|
Area within which the appropriate
authorities shall perform their function |
Value of any immovable property exceeds |
|
Area comprised in Greater Bombay |
Rs. 75 lakhs |
|
Area comprised in Union Territory of Delhi |
Rs. 50 lakhs |
|
Areas comprised in— |
|
|
|
Rs. 25 lakhs |
|
|
Rs. 25 lakhs |
|
City of |
Rs. 25 lakhs |
|
Other notified areas (Chandigarh, Jaipur, Trivandrum, Cochin, Nagpur,
Patna, Bhopal, Indore, Cuttack, Bhubaneshwar,
Hyderabad, Kanpur, Lucknow, Coimbatore, Madurai, Surat, Gurgaon, Faridabad,
Baroda, Ghaziabad and Noida) |
Rs. 20 lakhs |
[13]Substituted for “three” by the Finance Act, 1993, w.e.f. 1-6-1993
[14]See rule 48L and Form No. 37-I for form of statement to be furnished to the appropriate authority. The statement shall be furnished in duplicate, before expiry of 15 days from the date on which agreement for transfer is entered into
[15]Inserted by the Finance Act, 1995, w.e.f. 1-7-1995
[16]Substituted for “The appropriate authority” by the Finance Act, 1993, w.r.e.f. 17-11-1992
[17]Words “and for reasons to be recorded in writing,” omitted by the Finance Act, 1993, w.r.e.f. 17-11-1992
[18]Inserted by the Finance Act, 1993, w.e.f. 1-6-1993.
[19]Inserted by the Finance Act, 1995, w.e.f. 1-7-1995.
[20]Substituted for “further” by the Finance Act, 1993, w.e.f. 1-6-1993.
[21]Substituted for “the preceding proviso” by the Finance Act, 1993, w.e.f. 1-6-1993
[22]Inserted by the Finance Act, 1993, w.e.f. 1-6-1993
[23]Inserted by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[25]Substituted for “free from all encumbrances” by the Finance Act, 1993, w.r.e.f. 17-11-1992
[27]Inserted by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[28] Inserted by the Finance Act, 1993, w.r.e.f. 17-11-1992
[31]Substituted for “Commissioner” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.
[32]Inserted by the Finance Act, 2002, w.e.f. 1-7-2002