<h1>Cabinet Approves Exemption from Prior Approval for Disposal of Properties Under Chapter XX-C of Income Tax Act 1961.</h1> The Union Cabinet has approved a proposal to exempt the requirement for prior Cabinet approval for the disposal or auction of immovable properties acquired by the Central Government under Chapter XX-C of the Income Tax Act 1961. Previously, all government ministries and departments were required to obtain specific Cabinet approval for each sale or long-term lease of government land. This exemption aims to expedite the disposal process, facilitating quicker revenue generation. The auctions of these properties will continue to be conducted at market value following the standard procedure of the Income Tax Department.