Law:

Section:

Section 269D(2) of the Income-tax Act, 1961 - Acquisition of immovable property -Preliminary notice - By a registered sale deed, a plot of land was transferred for certain consideration - On Inspector's report that sale price had been understated, competent authority initiated proceedings for acquisition of said plot under Chapter XX-A - A preliminary notice envisaged under section 269D(1) was duly published in Official Gazette well within stipulated period of nine months prescribed under that section, but, however, notices issued under section 269D(2) were served upon parties to transaction after that prescribed period and even one of transferors was not at all served with notice - Whether Tribunal was justified in holding that due to non-compliance of provisions of section 269D(2) acquisition proceedings initiated by competent authority became null and void - Held, no Facts By a registered sale deed, the transferors transferred a vacant plot of land in favour of the transferees. The Inspector reported that the fair market value of the plot was much more than the sale price entered in the sale deed. The competent authority initiated proceedings under Chapter XX-A for acquisition of the said plot of land. The preliminary notice envisaged under section 269D(1) was duly published in the Official Gazette well within the period of nine months from the end of the month in which the sale deed was registered. However, the notices issued under section 269D(2) were served upon the parties to the transaction after the expiry of the period of nine months and even one of the transferors was not at all served with the notice. Objections against the proposed acquisition were filed only by one of the transferees and the competent authority after rejecting the objections passed an order for acquisition of the plot. On appeal by the transferors and the transferees, the Tribunal held that due to the non-compliance of the provisions of section 269D(2) the acquisition proceedings initiated by the competent authority became null and void, and, therefore, it set aside the order of acquisition passed by the competent authority. On appeals under section 269H: Held The Full Bench of…

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