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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 1993: Section 269UE Amended to Clarify Property Transfers, Protect Bona Fide Holders from Void Declarations</h1> Section 269UE of the Income-tax Act has been amended by the Finance Act, 1993. The amendment replaces the phrase 'free from all encumbrances' with a reference to the agreement for transfer under section 269UC. A proviso is added allowing the appropriate authority to declare any encumbrance or leasehold interest void if it is intended to defeat the chapter's provisions, ensuring the property vests in the Central Government free from such encumbrances. Another proviso exempts bona fide holders of encumbrances or leases from certain provisions, allowing them to retain possession if their interests are not declared void. These changes are effective from November 17, 1992.
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