https://www.taxtmi.com/caselaws?id=16933 The court quashed the order passed by the appropriate authority and directed it to issue a no-objection certificate to the petitioners within four weeks. The court emphasized that the authority's role is limited to determining undervaluation and cannot question the validity of agreements. Failure to act within the prescribed period obligated the authority to issue the certificate. The court clarified that the certificate signifies lack of government interest in purchase without assessing transaction legality. en-us Fri, 13 Feb 1998 00:00:00 +0530 Mon, 14 Sep 2009 11:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16933 The court quashed the order passed by the appropriate authority and directed it to issue a no-objection certificate to the petitioners within four weeks. The court emphasized that the authority's role is limited to determining undervaluation and cannot question the validity of agreements. Failure to act within the prescribed period obligated the authority to issue the certificate. The court clarified that the certificate signifies lack of government interest in purchase without assessing transaction legality. Case-Laws Income Tax Fri, 13 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16933