Law:

Section:

Section 269UC read with section 269UG of the Income-tax Act, 1961 - Purchase of immovable property by Central Government - Restrictions on transfer of property - Appropriate authority declined to issue no objection certificate on ground that there was no evidence to show that there were no tax arrears or that tax arrears, if any, were satisfied - Whether section 269UG provides sufficient safeguard for department and, therefore, appropriate authority was to be directed to decide whether it proposed to purchase said property or not and if it decided not to purchase said property it should issue no objection certificate - Held, yes FACTS The petitioner entered into an agreement for sale of certain property and gave intimation of the said agreement to the appropriate authority. In the application the petitioner stated that the property was attached for realization of outstanding excess profits tax demand and that the said demand had been satisfied. The authority rejected the application on the ground that even though the excess profits tax arrears appeared to have been satisfied, there was noting to show that there were no other tax arrears or that any such tax arrears, if any, were satisfied. On writ : HELD Section 269UG provides that the amount of consideration payable in case an order of purchase is made by the Central Government shall be tendered to the person or persons entitled thereto within one month of the property vesting in the Central Government. The proviso to sub-section (1) says further that, if any liability for any tax or any other sum, whether payable under the Income-tax Act, Wealth-tax Act, 1957, Gift-tax Act, 1958, Estate Duty Act, 1953 or the Companies (Profits) Surtax Act, 1964 is remaining payable by any person entitled to receive the consideration under section 269UF, the appropriate authority may pay over the said amount towards the discharge of such liability, after giving the intimation thereof to the person concerned. This is a sufficient safeguard for the Department. In this view of the matter, the appropriate authority was directed to decide within two months whether it proposed to purchase the said property under section 269UG and,…

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