Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Re-vesting of property when government fails to tender consideration results in abrogation of purchase order and return of possession. If the Central Government fails to tender or deposit the consideration required under sections 269UG and 269UE within the specified period, the purchase order under section 269UD is abrogated and the immovable property stands re-vested in the transferor after expiry of that period, excluding time consumed by court proceedings under the relevant sub-sections of section 269UG. The appropriate authority must declare the re-vesting in writing, deliver the declaration to persons under section 269UD(2), and restore possession to the transferor or the prior possessor.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Re-vesting of property when government fails to tender consideration results in abrogation of purchase order and return of possession.
If the Central Government fails to tender or deposit the consideration required under sections 269UG and 269UE within the specified period, the purchase order under section 269UD is abrogated and the immovable property stands re-vested in the transferor after expiry of that period, excluding time consumed by court proceedings under the relevant sub-sections of section 269UG. The appropriate authority must declare the re-vesting in writing, deliver the declaration to persons under section 269UD(2), and restore possession to the transferor or the prior possessor.
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