https://www.taxtmi.com/caselaws?id=3341 The court upheld the preemptive purchase order under Section 269-UD(1) of the Income Tax Act, dismissing the writ appeal challenging the lower consideration set by the appropriate authority. It found no procedural violations or under-valuation, supported the valuation based on comparable sale instances, clarified limited scope of judicial review under Article 226, directed payment to the transferor's wife and daughter, emphasized timely compliance with Section 269-UC(1), and dismissed the argument on locus standi of the transferee in maintaining the appeal. The court affirmed the authority's decision, dismissed the appeal, and directed the release of funds as per the decree. en-us Tue, 13 Mar 2007 00:00:00 +0530 Tue, 29 Jul 2008 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3341 The court upheld the preemptive purchase order under Section 269-UD(1) of the Income Tax Act, dismissing the writ appeal challenging the lower consideration set by the appropriate authority. It found no procedural violations or under-valuation, supported the valuation based on comparable sale instances, clarified limited scope of judicial review under Article 226, directed payment to the transferor's wife and daughter, emphasized timely compliance with Section 269-UC(1), and dismissed the argument on locus standi of the transferee in maintaining the appeal. The court affirmed the authority's decision, dismissed the appeal, and directed the release of funds as per the decree. Case-Laws Income Tax Tue, 13 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3341