https://www.taxtmi.com/caselaws?id=9466 The court quashed the preemptive purchase order under section 269UD(1) of the Income-tax Act, 1961, due to errors in considering evidence and violation of natural justice principles. The show-cause notice was found inadequate, vague, and lacking material disclosure, denying the petitioners a fair opportunity to rebut tax evasion presumption. The court emphasized the importance of considering comparable sale instances and providing sufficient time and reasons for response. Ultimately, the court set aside the order, ruling in favor of the petitioners without costs. en-us Mon, 26 Sep 2005 00:00:00 +0530 Tue, 23 Jun 2009 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9466 The court quashed the preemptive purchase order under section 269UD(1) of the Income-tax Act, 1961, due to errors in considering evidence and violation of natural justice principles. The show-cause notice was found inadequate, vague, and lacking material disclosure, denying the petitioners a fair opportunity to rebut tax evasion presumption. The court emphasized the importance of considering comparable sale instances and providing sufficient time and reasons for response. Ultimately, the court set aside the order, ruling in favor of the petitioners without costs. Case-Laws Income Tax Mon, 26 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9466