https://www.taxtmi.com/caselaws?id=19389 The court quashed the pre-emptive purchase orders dated December 9, 1986, in both Writ Appeal No. 215 of 1994 and Writ Appeal No. 216 of 1994. The cases were remitted to the appropriate authority for fresh consideration. The intending purchasers were directed to furnish bank guarantees and pay interest at 12% per annum if the sales were permitted, in accordance with the principles established in C. B. Gautam v. Union of India [1993] 199 ITR 530 (SC). en-us Wed, 13 Jul 1994 00:00:00 +0530 Thu, 05 Nov 2009 18:04:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19389 The court quashed the pre-emptive purchase orders dated December 9, 1986, in both Writ Appeal No. 215 of 1994 and Writ Appeal No. 216 of 1994. The cases were remitted to the appropriate authority for fresh consideration. The intending purchasers were directed to furnish bank guarantees and pay interest at 12% per annum if the sales were permitted, in accordance with the principles established in C. B. Gautam v. Union of India [1993] 199 ITR 530 (SC). Case-Laws Income Tax Wed, 13 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19389