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 notification83[R2] 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 thing84[R3]
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 value85[R4]
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 value85[R5]
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 ;
86[R6] (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”87[R7] ,
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 53A88[R9]
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 such appropriate authority ;
(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 rules89[R10] 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, 90[R11] [no
transfer of any immovable property in such area and of such value exceeding
five lakh rupees, as may be prescribed91[R12] ],
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 92[R13] [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.
93[R14] (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.
94[R15] [(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) 95[R16] [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, 96[R17] [* *
*] 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 :
97[R18] [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
:]
98[R19] [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 99[R20] [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 1[R21] [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 :
2[R22] [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.]
3[R23] [(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 interested4[R24] 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 5[R25] [in
terms of the agreement for transfer6[R26]
referred to in sub-section (1)
of section 269UC] :
7[R27] [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 :
7[R28] [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 dispute8[R29] as
to the title8[R30] 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 9[R31] [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.]
10[R32] [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.]
[R1] 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.
[R2]For specified areas to which
the provisions of this Chapter would apply
[R3]For the meaning of the term
“thing”,
[R4]Rate of
interest for determination of discounted value is 8 per cent per annum vide
rule 48-I.
[R5]Rate of
interest for determination of discounted value is 8 per cent per annum vide
rule 48-I.
[R6]See rule 48J.
[R7]For the meaning of the terms/expressions “person interested” and “transfer”,
[R8]For the
meaning of the terms/expressions “person interested” and “transfer”,
[R9]For text of section 53A of the
Transfer of Property Act, see Appendix One.
[R10]See rule 48J.
[R11]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.
[R12]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 on next page :
|
Area within which the appropriate
authorities shall perform their function |
Value of any immov
able property exceeds - |
|
Area comprised in
Greater Bombay |
Rs. 75 lakhs |
|
Area comprised in
Union Territory of Delhi Areas comprised in— |
Rs. 50 lakhs |
|
Calcutta Metropolitan Area
& Madras Metropolitan Area |
Rs. 25 lakhs |
|
Bangalore Metropolitan Region,
Ahmedabad Urban Development
Area and City of Ahmedabad |
Rs. 25 lakhs |
|
City of Pune |
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 |
[R13]Substituted
for “three” by the Finance Act, 1993, w.e.f. 1-6-1993.
[R14]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.
[R15] Inserted by the Finance Act, 1995, w.e.f.
1-7-1995.
[R16]Substituted
for “The appropriate authority” by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[R17]Words
“and for reasons to be recorded in writing,” omitted
by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[R18]Inserted by the Finance
Act, 1993, w.e.f. 1-6-1993.
[R19]Inserted by the Finance Act,
1995, w.e.f. 1-7-1995.
[R20]Substituted for “further” by the Finance Act,
1993, w.e.f. 1-6-1993.
[R21]. Substituted for ‘ the
preceding proviso’ by the Finance Act, 1993, w.e.f. 1-6-1993
[R22]Inserted by the Finance Act, 1993, w.e.f. 1-6-1993
[R23]Inserted
by the Finance Act, 1993, w.e.f. 1-6-1993., w.r.e.f. 17-11-1992.
[R24]For the
meaning of the expression “person… interested”,
[R25]Substituted for “free from all encumbrances” by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[R26]For the
meaning of the expression “in terms of the agreement for transfer”,
[R27] Inserted by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[R28] Inserted by the Finance Act, 1993, w.r.e.f. 17-11-1992.
[R29]For the meaning of the terms “dispute” and “title”,
[R30]For the meaning of the terms “dispute” and “title”,
[R31]Substituted
for “Commissioner” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.
1-4-1988.
[R32] Inserted by the Finance Act, 2002, w.e.f. 1-7-2002.