https://www.taxtmi.com/caselaws?id=15090 Pre-emptive purchase under section 269UD(1) requires a reasonable opportunity and procedurally regular proceedings; failure to meet those requirements supports setting aside the purchase order. Where acquisition proceedings prevent payment of consideration for immovable property and the vendor has not obstructed completion, equitable interest may be awarded for the period during which the vendor is deprived of the unpaid amount. The rate and duration depend on the facts, while any separate contractual balance payable on conveyance remains governed by its agreed interest terms. Interest at 12% per annum was treated as appropriate for the specified period on the amount withheld due to the proceedings. en-us Thu, 03 Feb 2000 00:00:00 +0530 Fri, 31 Jul 2009 18:41:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15090 Pre-emptive purchase under section 269UD(1) requires a reasonable opportunity and procedurally regular proceedings; failure to meet those requirements supports setting aside the purchase order. Where acquisition proceedings prevent payment of consideration for immovable property and the vendor has not obstructed completion, equitable interest may be awarded for the period during which the vendor is deprived of the unpaid amount. The rate and duration depend on the facts, while any separate contractual balance payable on conveyance remains governed by its agreed interest terms. Interest at 12% per annum was treated as appropriate for the specified period on the amount withheld due to the proceedings. Case-Laws Income Tax Thu, 03 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15090