https://www.taxtmi.com/caselaws?id=10581 Chapter XX-C pre-emptive purchase under section 269UD is discussed as a limited judicial review regime focused on illegality, irrationality, procedural unfairness, or disregard of relevant factors. The commentary notes that an agreement-holder's challenge was not barred where the Supreme Court had kept all contentions open, that notice, reply and hearing satisfied natural justice, and that RBI approval or alleged litigation risk did not restrict statutory power. It also explains that valuation based on comparable sales, locality features and the belting method will not be reappraised in judicial review where relevant material and reasons support a finding of significant undervaluation. en-us Wed, 25 May 2005 00:00:00 +0530 Sat, 18 Jul 2009 09:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10581 Chapter XX-C pre-emptive purchase under section 269UD is discussed as a limited judicial review regime focused on illegality, irrationality, procedural unfairness, or disregard of relevant factors. The commentary notes that an agreement-holder's challenge was not barred where the Supreme Court had kept all contentions open, that notice, reply and hearing satisfied natural justice, and that RBI approval or alleged litigation risk did not restrict statutory power. It also explains that valuation based on comparable sales, locality features and the belting method will not be reappraised in judicial review where relevant material and reasons support a finding of significant undervaluation. Case-Laws Income Tax Wed, 25 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10581