https://www.taxtmi.com/caselaws?id=12670 Chapter XX-C of the Income-tax Act, 1961 limits the appropriate authority to a single statutory choice on receipt of Form No. 37-I: either order pre-emptive purchase by the Central Government or, if no purchase order is made within time, issue a no objection certificate. The authority cannot treat the statement as non-maintainable or reject it on grounds outside that scheme. Possession delivered under an agreement conditional on tax authority approval does not amount to a transfer in part performance under section 53A, and therefore does not by itself violate the statutory regime. An alleged failure to file a rectified Form No. 37-I, without a sustainable defect basis, does not justify rejection. en-us Fri, 31 May 2002 00:00:00 +0530 Thu, 21 May 2009 10:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12670 Chapter XX-C of the Income-tax Act, 1961 limits the appropriate authority to a single statutory choice on receipt of Form No. 37-I: either order pre-emptive purchase by the Central Government or, if no purchase order is made within time, issue a no objection certificate. The authority cannot treat the statement as non-maintainable or reject it on grounds outside that scheme. Possession delivered under an agreement conditional on tax authority approval does not amount to a transfer in part performance under section 53A, and therefore does not by itself violate the statutory regime. An alleged failure to file a rectified Form No. 37-I, without a sustainable defect basis, does not justify rejection. Case-Laws Income Tax Fri, 31 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12670