Law:

Section:

Section 269UD of the Income-tax Act, 1961 - Purchase of immovable property by Central Government - Order by appropriate authority - Petitioners entered into an agreement with vendors to purchase a plot measuring fourteen and half grounds - Form o. 37-I was filed in relation to that property - Appropriate authority, after looking into agreement, rejected Form No. 37-I, and also directed Sub-Registrar not to register any sale deed regarding that property - On writ petition filed against said direction, Single Judge directed appropriate authority to pass an order either granting a NOC or exercise Government's right to purchase property under Chapter XX-C - Appropriate authority ordered for compulsory acquisition of property under section 269UD(1) - Against said order on instant petition, it was seen that appropriate authority had determined market value of plot in question merely on basis of sales instances of two plots measuring only two grounds each - Order passed by appropriate authority did not indicate anywhere that specialized knowledge was utilized in demonstrable way for purpose of determining market value of plot in question - Whether, in view of aforesaid circumstances, method adopted by authority for ascertaining market value was far from being satisfactory and not one which could be regarded as fair and just - Held, yes - Whether, therefore, impugned order was to be set aside, and matter was to be remitted to authority to redetermine market value of property after taking into consideration all relevant circumstances - Held, yes FACTS The petitioner entered into an agreement with the vendors to purchase a plot admeasuring fourteen and half grounds. Form No. 37-I in relation to the said property was filed after the execution of the agreement. The appropriate authority after looking into that agreement rejected that Form No. 37-I and also directed to the Sub-Registrar not to register any sale deed regarding that property until a NOC was issued by that authority. On writ petition against the said direction, the Single Judge directed the appropriate authority to pass an order either granting a NOC or exercise the Government's right to purchase the property…

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