Lytton Hotel (P) Ltd. vs Appropriate Authority & Ors.

Authority: High Court Date: 2000-11-15 Section: 269UD Acts: Income Tax Act 1961, Bombay Public Trust Act 1992 Result: Partly Citation: (2001) 166 CTR (Cal) 437 : (2001) 248 ITR 541 (Cal) : (2001) 119 TAXMAN 912 (Cal) Justices: Sengupta, J. Appeal No: Writ Petn. No. 1833 of 1993
Whether the Appropriate Authority's order for pre-emptive purchase under section 269UD of the Income Tax Act 1961, based on a valuation report using comparable sale instances for a tenanted Wakf property, and lacking recorded satisfaction of undervaluation aimed at tax evasion, is valid --- Held No. The order is set aside, and the authority is directed to issue a No Objection Certificate.

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