https://www.taxtmi.com/caselaws?id=9754 Under Chapter XX-C of the Income-tax Act, a pre-emptive purchase order cannot survive unless the apparent consideration is tendered to the transferors within the statutory framework. As no apparent consideration was tendered to the petitioners or deposited in the Central Government account, the mandatory consequence under section 269UH followed and the Government's right to purchase stood abrogated. The Bombay HC therefore held that the impugned purchase orders could not be sustained and the properties revested in the petitioners. en-us Mon, 26 Sep 2005 00:00:00 +0530 Tue, 30 Jun 2009 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9754 Under Chapter XX-C of the Income-tax Act, a pre-emptive purchase order cannot survive unless the apparent consideration is tendered to the transferors within the statutory framework. As no apparent consideration was tendered to the petitioners or deposited in the Central Government account, the mandatory consequence under section 269UH followed and the Government's right to purchase stood abrogated. The Bombay HC therefore held that the impugned purchase orders could not be sustained and the properties revested in the petitioners. Case-Laws Income Tax Mon, 26 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9754